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Dodd … Stand By Your Friends

Chris Dodd is coming out but the answers still ring hollow. Connecticut’s senior senator tells Channel 3’s Dennis House:

  • Hey, Countrywide’s Robert Feinberg’s lying … no sweetheart mortgage deal
  • No I will not release my mortgage papers … everyone already saw em … for a day
  • The Irish cottage thing … hey the appraisal said it was worth the $200,000 … who am I to argue?
  • and finally on his real estate dealings with and arranged 2001 Presidential pardon for convicted securities fraud friend Edward Downe … you stand by your friends … well that is except if your friend is standing on principal … like Joe Lieberman?

Dodd on the mortgage deal …

httpv://www.youtube.com/watch?v=RYU_zSA_oLE

Oh and if you’re interested, here’s what Countrywide’s Robert Feinberg told the Feds …

httpv://www.youtube.com/watch?v=2w3SgFOR9nY

Just so we can set the record straight, Dodd did get a deal above and beyond the average mortgage rate, which he claimed he negotiated. I can assure the Senator, 4 and 1/4 on a loan that size … you got a sweetheart deal. Not to mention closing costs, which may or may not have been waived, I do not know because I have not seen the documents. And as for seeing those mortgage papers again …. fogeddaboudit!

httpv://www.youtube.com/watch?v=iMpXAC8cGxA

Allowing select reporters to view documents for a view hours and calling it transparency is dishonest in itself. As I have said before, it was a circus. I was considering posting Dodd’s answer on his $200,000 (2001 prices) seaside gold coast Irish cottage … but I won’t bother. Suffice to say it was … “the bank appraised it and what could I say”.

All a all nice try but if this is the best he has, he’s got problems … big ones. You know what a house is worth, especially when condos in the area go for much more. It stinks which is why we keep saying … release the papers.

Dodd’s Real Estate Deals

Kevin Rennie has dug deeper into Dodd’s real estate deals in both DC and In Ireland with his friends Ed Downe and William Kessinger (A Pardon For A Friend, A Good Deal For Dodd). The bottom line … it looks like it pays to be a sitting in influential Senator in Washington, not that that should surprise anyone.

Dodd was never required to name Kessinger (on Senate disclosures) as the co-owner of their house on 10 acres of waterfront property on the west coast of Ireland for the eight years they owned it together. As with the condominium, the public doesn’t know who paid the expenses associated with it when Kessinger owned two-thirds of it.

and then this on his Irish estate ….

Waterfront properties on the “Irish Riviera” don’t often come on the market. In today’s dire real estate market, a 750-square-foot, two-bedroom townhouse in nearby Roundstone is for sale for $750,000. A 900-square foot, three-bedroom semi-detached house, boasting of a view of Inishnee, the island where Dodd’s house stands high above Bertaghboy Bay, is offered for $700,000.

Dodd said through a spokesman two weeks ago that the price he paid Kessinger — $122,351, according to the Land Registry, for his two-thirds share in 2002 — was based on an appraisal. He hasn’t released it.

There is a pattern and its not good. A US Senator personally benefiting from real estate deals with “friends” … friends who can personally benefit from Dodd’s political status. In each case Dodd may have benefited handsomely but we do not know because Dodd will not disclose financial documents for any of them.

Finally … the mortgage papers

No … not from Dodd. From the guy who just may beat him in 2010. Read more