Senators Dodd And Kent Conrad Cleared

August 8. 2009

Chris Dodd

U.S. Senators, Chris Dodd and Kent Conrad were cleared of impropriety in accepting discounted loans from, Enzio Mozilo, the deposed CEO of troublesome Countrywide.

Kent Conrad

Regardless of the complaint dismissal, the appearance of impropriety is there. The mere fact they accepted favors of a financial nature, from a corrupt banking CEO that helped to bring the worst mortgage crisis in history on America and by default, Britain, France, Germany, Switzerland and Iceland, who invested in Wall Street, on which he trades, was highly inappropriate.

Senators Dodd, Conrad Cleared on Ethics Complaints

Friday, August 7, 2009; 6:17 PM - The Senate Ethics Committee on Friday dismissed complaints against Sens. Christopher J. Dodd (D-Conn.) and Kent Conrad (D-N.D.) that they used their positions of power to obtain special deals on home loans from lender Countrywide Financial.

After a year-long investigation, the committee told Dodd and Conrad that it found "no substantial credible evidence" that they violated the Senate's ethics rules. The committee found that the senators' loans were processed through the special program, but that they didn't appear to profit financially from it.

But the committee also admonished the senators, saying they "should have exercised more vigilance in your dealings with Countrywide in order to avoid the appearance that you were receiving preferential treatment based on your status as Senator."

The allegations about Dodd and Conrad are part of a politically explosive controversy about whether high-profile politicians and businessmen received special deals on home loans from an exclusive Countrywide program created by former chief executive Angelo Mozilo.

The ethics committee investigation found that participants in the Countrywide program "were often offered quicker, more efficient loan processing and some discounts."

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