NYT Rejoices in the Ethics of Chris Dodd

Well, actually, the NYT editorial board takes the Senate banking committee chair to task for his refusal to release documents about his “favorable” mortgage rates from Countrywide:

After reports emerged in June about him having received favorable treatment on two home mortgages from the Countrywide Financial Corporation, Senator Christopher Dodd, a Democrat from Connecticut, promised that he would release documents to support his contention that he never benefited financially from the terms of the loans.

The senator has failed to keep his promise, and his excuses are wearing ridiculously thin.

“I think it will become obvious at the time when it’s the right time, and I’ll explain that at the time when I do so,” Mr. Dodd said last week after a speech in Norwich, Conn., according to The Hartford Courant.

When asked to elaborate, he said: “My answer is what it is, and in the right time, it will be there.”

Mr. Dodd’s original explanation for the loans were not much of an improvement, frankly. He says he knew he was on a V.I.P. list at Countrywide, once the nation’s largest mortgage lender and one of the early casualties of the financial collapse — and now the target of dozens of lawsuits over predatory lending. But he said he did not “seek or expect” preferential treatment, which has left everyone wondering what exactly the V.I.P. list was for.

Meanwhile, Mr. Dodd continues to serve as chairman of the Senate banking committee. He has been a member of the committee for much of his 28 years in the Senate. He is a leader in shaping legislation that will bail out the mortgage industry, which has given him generous campaign support over the years, particularly during his recent, unsuccessful campaign for president.

Gotta love that Democrat transparency!


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