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THURSDAY, NOVEMBER 26, 2009
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Dodd, Conrad Cleared But Scolded in Mortgage Probe

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(Newser) – Chris Dodd and Kent Conrad have been cleared of wrongdoing in taking preferred loans from Countrywide Financial, the Hill reports. But the Senate ethics panel gave both Democrats slaps on the wrist. No “credible evidence” of ethics violations emerged, the committee said in a statement, but two “should have exercised more vigilance” to “avoid the appearance you were receiving preferential treatment."

The probe started last year after an accountability group asked the committee to investigate whether mortgages issued to Dodd and Conrad violated Senate gift rules. Both senators borrowed through the Countrywide “VIP program,” known internally as “Friends of Angelo” after former CEO Angelo Mozilo. Both Dodd and Conrad have said they never asked for preferential treatment.

Sen. Chris Dodd, D-Conn.
Sen. Chris Dodd, D-Conn.   (AP Photo)
Senate Budget Committee Chairman Sen. Kent Conrad, D-N.D.
Senate Budget Committee Chairman Sen. Kent Conrad, D-N.D.   (AP Photo)
Angelo Mozilo, founder and former chief executive officer of Countrywide Financial Corporation.
Angelo Mozilo, founder and former chief executive officer of Countrywide Financial Corporation.   (AP Photo)
The Countrywide Financial Corp. office in Beverly Hills, Calif.
The Countrywide Financial Corp. office in Beverly Hills, Calif.   (AP Photo)
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I’ve said all along that I welcomed a close examination of my mortgages, and I’ve also said all along that Jackie and I received the same mortgages that anyone else could have received. - Sen. Chris Dodd

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20 comments
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TheSniperZero
Aug 7, 09 3:50 PM CDT
Snakes like Dodd are the reason NOBODY trusts the government. Reply
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+5
newsrmandan
Aug 7, 09 4:01 PM CDT
not asking for preferential treatment is kinda given when your a senator. Isn't that why they run for office? Reply
Vote up! Vote down!
+1
odowd80
Aug 7, 09 4:02 PM CDT
@Sniper: can't argue with you here. Dodd and Conrad both knew that they were getting a sweet deal. They deserve worse than a slap on the wrist. Reply
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+5
IN RESPONSE:
Reader64481089
Aug 7, 09 4:17 PM CDT
Yes they do....damn shame
Vote up! Vote down!
+2
Jayster999
Aug 7, 09 4:32 PM CDT
More dirty Dems. When will you folks admit that we need to clean house on these entrenched politicians and their corrupt ways. Do you think you'll ever get tired of the corruption in your own party? Reply
Vote up! Vote down!
-3

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