The EU

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Monday, February 2, 2009

Senator Chris Dodd--Day 192

It is Day 192 since Connecticut Senator Chris Dodd promised to release data on his two Countrywide VIP mortgages. He must be having trouble rounding up the paperwork.

However, it is reported in National Review On-Line that he is going to refinance those two mortgages--one for his house in Washington, DC and one for his house in East Haddam, Conn--in an effort to clear the air. The NRO item was a condensation of a longer article in the Wall Street Journal.

Perhaps in getting his paperwork in order for the new mortgages he can release the paperwork on his Countrywide mortgages, which are a source of some puzzlement, given his important position on the Senate Banking Committee.

Did I mention there is an ongoing ethics investigation?

To his credit, Senator Dodd understands that this looks funny. He is quoted by the WSJ as saying:
Knowing what I know now, I regret having ever done business with Countrywide.
Frankly, I hope this turns out to be less than it appears, but with his position in the US Senate and his hand in the banking bill and his good deal from Countrywide it looks and smells bad. And, at this point in time we don't need that kind of distraction. But, as I noted, he at least recognizes the problem.

Regards  --  Cliff

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