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Senators: Loan Discounts Were Courtesy

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Scarecrow Akhbar

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Senators: Loan Discounts Were CourtesyTwo powerful Senate Democrats said Tuesday that they knew they got low mortgage-rate deals in a lender's VIP program but thought the special treatment was a "courtesy" or the same as "frequent flier" discounts.

Both vehemently denied any wrongdoing or ethical lapse in the mortgage deals, which came to light a year ago and triggered investigations by the Senate Select Committee on Ethics and the House Oversight and Government Reform Committee.

"I thought this was like a frequent-flier program," Sen. Kent Conrad, chairman of the Senate Budget Committee, said of the special benefits. "I thought nothing of it."

Sen. Christopher J. Dodd, chairman of the Banking, Housing and Urban Affairs Committee, said an account executive at Countrywide Financial Corp. told him that the VIP status was "nothing more than ... courtesy stuff."
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"Courtesy Stuff"..."frequent flier miles"....if they're honestly that stupid, they should be ejected from the Senate. If they seriously think the people in their states, not to mention the rest of the country, are stupid enough to beleive the, they should be removed from office....before their trips to jail for taking bribes.
 
Scarecrow Akhbar said:
"Courtesy Stuff"..."frequent flier miles"....if they're honestly that stupid, they should be ejected from the Senate. If they seriously think the people in their states, not to mention the rest of the country, are stupid enough to beleive the, they should be removed from office....before their trips to jail for taking bribes.
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If Countrywide Financial waives fees for a VIP group, why would elected officials be prohibited from being included in it?

By the way, do you get infractions for posting in the wrong forum?
 
WillRockwell said:
If Countrywide Financial waives fees for a VIP group, why would elected officials be prohibited from being included in it?

By the way, do you get infractions for posting in the wrong forum?
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It is ok, if they've extended the same courtesy to other borrowers.

Personally, I've never heard of a, "discount", on loans. I've borrowed over a million dollars in various loans over the past 9 years from the same hometown bank and never got discount. They've done me favors, such as wave late fees, because business was slow, etc., but that's something they do for all their customers, so it's not like I'm being treated special.
 
WillRockwell said:
If Countrywide Financial waives fees for a VIP group, why would elected officials be prohibited from being included in it?

By the way, do you get infractions for posting in the wrong forum?
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Beause Dodd is a crook taking bribes. According to Speaker of the House Jim Foley, even the "appearance of impropriety" is enough to disqualify a member, so what about real improprieties like taking special favors while Chairman of the Senate Banking Committee?
 
Scarecrow Akhbar said:
Beause Dodd is a crook taking bribes. According to Speaker of the House Jim Foley, even the "appearance of impropriety" is enough to disqualify a member, so what about real improprieties like taking special favors while Chairman of the Senate Banking Committee?
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The Dems will overlook it , like they always do
 
submarinepainter said:
The Dems will overlook it , like they always do
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Of course they will. They've got enough programmed robots out here proclaiming that "it wasn't anything special" to think they can get away with it. Since the Democrats also own the Congress and the Justice Department, they can.

Chicago has moved to Washington.
 
submarinepainter said:
The Dems will overlook it , like they always do
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Democrats aren't the ones that overlook corruption, they just arrested a bus load of crooked politicians in New Jersey, and started prosecuting William Jefferson today.

Again, the article describes a VIP group within Countrywide also known as Friends of Angelo. Like it or not, this program was in place, and the congressmen were not the only ones to benefit.

It seems so peculiar to hear someone get all worked up over a Democrat having the fees on a loan waived, after witnessing 8 years of the most disgusting, criminal behavior on the part of Republicans, including reports of semi-truck loads of taxpayer money being given away in Iraq. Chris Dodd got a break on his mortgage? Please spare me your crocodile tears.
 
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