The Power of the Position

The Power of the Position. If you are Senator Dodd you have it. Power in the mortgage industry for sure. In my economic opinion there has been a grave misuse of power by him and several other elected officials with regards to obtaining favorable mortgage rates with Countrywide. He did indeed receive a favorable loan at a lower interest rate than other consumers. Why? Because of their V.I.P. program which amounts to paybacks to our elected officials for pro mortgage legislation.
Mr. Dodd is Chairman of the Banking Committee and now overseeing a great taxpayer bailout of the greed and ineptness that graced this industry for many years now. This is unjust and does a grave disservice to those who pay their mortgages on time and followed proper procedures, rules and laws to obtain their mortgages.
Mr. Dodd lacks ethics in his denials. This is just another blatant disregard that the United States Congress has for taxpayers and the citizens they represent.