Do all Washington politicians get their loans directly from CEOs in the mortgage industry? Readers might be wondering after learning about Countrywide Financial and its VIP treatment for Senators Christopher Dodd (D., Conn.) and Kent Conrad (D., N.D.)…
Mr. Conrad then recounted how he came to receive preferential treatment from the country’s largest mortgage lender. The Senator evidently believes that his latest version of events, in which he gets a sweetheart mortgage from a CEO only after first contacting the former CEO of the largest wholesale purchaser of home mortgages, somehow makes his conduct appear more appropriate.
Pffsst. Aren’t these the same folks that are now trying to bail out the mortgage industry?