Two democratic senators with their own housing crisis
From Politico’s Huddle:
SENS KNEW ABOUT VIP MORTGAGES: New revelations about what Sens. Kent Conrad and Chris Dodd knew about their “VIP” mortgage rates with Countrywide. From The Washington Post’s Zachary Goldfarb: “The Senate ethics committee has interviewed a former Countrywide Financial executive who testified under oath that Sens. Christopher J. Dodd (D-Conn.) and Kent Conrad (D-N.D.) were aware that they were accessing a special program to give below-market-rate mortgages to the powerful and famous when he arranged their loans, according to the executive’s attorneys.
This sounds like a problem to me. For senator Dodd (from my home state of Connecticut), this could not have come at a worse time. He is up for re-election in 2010, and by all accounts, is struggling to regain his footing in an overwhelmingly democratic state (registered democrats outnumber republicans by almost 4-1).
You can read excerpts of the testimony here, courtesy of Politico.