Senators Getting Better Loan Deals

As chairman of the senate banking committee Chris Dodd has been
trying to crack down on companies accused at predatory mortgages at the
center of the home foreclosures
crisis, but Countrywide, one of the companies being investigated for
foreclosure fraud has given Senator Dodd cut rate deals on two loans.

According to the Portfolio Magazine, Dodd’s fellow Democrat Kent
Conrad got similar deals but despite the buzz and speculation of
violating ethics rules, there is no evidence of anything illegal, as
long as they didn’t know they were getting better rates not available
to the general public. For Sen. Dodd, being the chairman of the banking
committee it is hard to believe that Dodd didn’t know that he was
getting better rates and that might be a tough sell politically.