Monday, July 27, 2009

Is this true?

If so, Dodd and Conrad have a lot of explaning to do:

Despite their denials, influential Democratic Sens. Kent Conrad and Chris Dodd were told from the start they were getting VIP mortgage discounts from one of the nation's largest lenders, the official who handled their loans has told Congress in secret testimony.

Both senators have said that at the time the mortgages were being written they didn't know they were getting unique deals from Countrywide Financial Corp., the company that went on to lose billions of dollars on home loans to credit-strapped borrowers. Dodd still maintains he got no preferential treatment.

Dodd got two Countrywide mortgages in 2003, refinancing his home in Connecticut and another residence in Washington. Conrad's two Countrywide mortgages in 2004 were for a beach house in Delaware and an eight-unit apartment building in Bismarck in his home state of North Dakota.

Robert Feinberg, who worked in the Countrywide's VIP section, told congressional investigators last month that the two senators were made aware that "who you know is basically how you're coming in here."

Ok, this is the problem with congress.

The United States Congress has forgotten who they work for. If anyone believes the constitution, these elected officials are suppose to represent us, the people. But, as more things have come to light, especially around the health care legislation, the mere fact is that congress works for the corporations. The LARGE corporations that line their campaign coiffers.

Now, Dodd and Conrad, if true, is probably not the only ones in the pot who got something while touting the housing industry's water, but right now it just does not smell right.

Yes, I hear the argument that it is the AP reporting this, but this has been floating around Chris Dodd for quite some time and remember Countrywide was out of the State of Connecticut.

What I am trying to state is his that if we expect ANYTHING in health care to get done, how can it when so many are compromised from both sides? The ones that are spending the 1.4M a day to lobby are the ones who will have the final say, apparently. And that final say will be the health care and insurance industries.

The question is, "Are we going to let them?"


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