Friday, June 20, 2008

Selective Morality

Last week Sen. Chris Dodd (D-Conn.) and Kent Conrad (D-N.D.) found themselves having to explain their participation in a mortgage program that was not available to most of their constituents. Dodd stated he didn't understand, or know too much about the VIP loan he was given, which gave him "favorable rates". Dodd is ironically the chairman of the banking committee.

Republicans are pressing for a hearing about this and due to this and other pressure, the senate ethics committee will now look into this. However, Dodd and Conrad may not have done anything illegal. According to senate rules, senators do not have to disclose mortgage information. How convenient.

Politico did a survey of many senators, regarding their mortgages, the results are in the attached link. They will update the survey when they get more responses. Here is the Politico Article.

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