O’Reilly had their new DC editor Bill Sammon on the air tonight discussing Barney Franks latest conflict of (love) interest at Fannie Mae … not much interest … but then Dodd’s name came up and the following conversation took place. Hmmmmmm.
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Dodd and Countrywide: The Saga Continues?
Filed in: News
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Maybe someone already mentioned this but a detail may be the unravelling of C. Dodd. The details are this.
Dodd got a favor from Countrywide. Enough of a favor – before his election – to make it at least uncomfortable for CD.
At around the same time the CEO of Countrywide had a meeting with Mr. Mudd, presumably after a similar meeting with the CEO of Freddie, or whichever. Anyway, there was so much private capital around that Countrywide was making mortgages faster than ever and needed their capacity, which up to then was being rather carefully underwritten.
The detail is the bridge between Countrywide and legislative pressure exerted via law and letters directed at both Fannie and Freddie to lend their capacity – NO QUESTIONS ASKED – to Countrywide and, maybe others who are too small to matter.
Welcome Mr. and Ms. FBI.