When Will This Country Stop Senator Chris Dodd?

08-31-2009 • The Golden Truth

We know that Dodd received a "FOA" mortgage from Countrywide. "FOA" is Friends of Angelo Mozilo, the disgraced and corrupt ex-Countrywide CEO who is under massive class-action lawsuits which total in the $100's of billions. In fact, one of Dodd's mortgages was underwritten in DC stating that it was his "primary" residence, when in fact his primary home is in Connecticut. This means is he received much more favorable terms and a lower mortgage rate. We also know that Dodd was responsible for engineering legislation that helped usher in the proliferation of subprime mortgages, especially with regard to the ability of Fannie Mae and Freddie Mac to underwrite these garbage loans, many of them fraudulent. And now we see via Forbes, that Senator Dodd went to bat for a big Connecticut hedge fund, which also owns a mortgage servicing business, in order for this fund to attain access to the TALF program (Term Asset-Backed Lending Facility). TALF i