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November 22, 2008 11:06:30 CST

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Countrywide Scandal Extends to Senate

Posted Jun 13, 08 12:45 PM CDT in Politics,  Business,  US 

(Newser) – Countrywide Financial made sweetheart deals for lawmakers and other high-profile pols who received mortgages from the disgraced lender, a Portfolio exposé reveals. The deals, which appear to violate both company rules and federal law, benefited "Friends of Angelo"—as in CEO Angelo Mozilo—including at least two US senators, Clinton and Bush Cabinet members, and an ex-UN ambassador.

Chris Dodd, who saved nearly $78,000 on two loans, chairs the Senate Banking Committee. Kent Conrad heads the Senate Budget Committee. Mozilo once wrote that the latter’s special loan was “due to the fact that the borrower is a senator.” But Conrad denies ever meeting Mozilo and says he “never asked for, expected, or was aware of any special treatment.”

Source Portfolio

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Angelo Mozilo, founder and former CEO of Countrywide Financial Corporation.   (AP Photo)
Mexico's congresswoman Ruth Zavaleta,left, president of Mexico's Lower House, talks with U.S. Sen. Christopher Dodd.   (AP Photo/Monica Rueda)
Senate Budget Committee Chairman, Sen. Kent Conrad.   (AP Photo/Dennis Cook)
Former Health and Human Services Secretary Donna Shalala, left, accompanied by former Senate Majority Leader Bob Dole.   (AP Photo/Susan Walsh)
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Countrywide Financial • Chris Dodd • Angelo Mozilo • Donna Shalala • Kent Conrad


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