Save money on your mortgage! Ask me how!
Sen. Christopher J. Dodd engaged in damage control Wednesday by addressing the mounting criticism of his response to allegations of favorable treatment by a mortgage company.
Ooooh. Damage control. Not a good phrase that early in the story...
After a ceremony celebrating his role in passing major mental health legislation, Dodd told reporters that he was waiting for a bipartisan Senate ethics inquiry to conclude before releasing documents related to his two mortgages.
And it's "bipartisan" and "ethics" is in there, so you know it's all legit and everything...
"That's probably what I should have explained earlier and didn't, and I apologize to you for not laying this out. 'Why wasn't he willing to turn over documents? What's the reason?' The reason is, of course, there's this ongoing inquiry," Dodd said.
...and I wouldn't wanna screw up this ongoing inquiry, would I?
Dodd had responded cryptically recently, saying only that he would fulfill a promise to release the documents at the "appropriate time."
Probably the day after he's dead.
Portfolio magazine reported in June that Dodd had been extended preferential treatment by Countrywide Financial in 2003, when he was a senior Democrat on the Senate banking committee. He is now its chairman.
Ah. Fifth paragraph. But we already knew...
The rates that Dodd received were available on the open market, but Portfolio reported that some fees and costs were waived, a possible violation of Senate rules on gifts. The mortgages totaled nearly $780,000. "These transactions were standard transactions at standard rates," Dodd said Wednesday. "I never sought any special treatment. I never was offered any special treatment."
Some things are just...understood.
Portfolio reported that Dodd was included in a VIP program established by Angelo Mozilo, the chief executive officer of Countrywide, once the nation's largest mortgage lender."I never dealt with Angelo Mozilo, or whatever his name is, or any senior executive at Countrywide at all," Dodd said.
Angelo? Who? Angelo who?
Under its rules, the Senate ethics committee cannot acknowledge that a preliminary inquiry is underway, even though the complaint was filed publicly and Dodd acknowledges its existence.
So what is it? Like the Star Chamber? Are there robes and secret handshakes?
"I welcome that inquiry. I've been fully cooperative with anything they've requested or need from me or my family regarding this matter," Dodd said.
I welcome it, I tells ya!
Only seven of the 95 complaints to the committee in 2007 resulted in a preliminary inquiry, according to the panel's annual report. No sanctions resulted.
Ah, yes, the Senate Protective Society. Just another benny of being a United States Senator...