Politics is a funny game to watch, probably even more bizarre from the inside.
On one hand we have Sen. Chris Dodd (D-Conn.), chairman of the Banking Committee no less, railing against the subprime lenders for their unethical behavior, while taking a sweet deal on two mortgages. The fact that he reportedly received those mortgages at a pretty deep discount from what any other prime borrower could have gotten and never considered it favoritism blows my mind. What's worse than him even remotely believing that is his thinking that the American public, including his constituents, will believe it.
And Senate Budget Committee Chairman Kent Conrad (D-N.D.) contacts a former Fannie Mae chief who is reportedly talking at that moment with Countrywide's CEO about a mortgage and doesn't expect to be receiving preferential treatment? The same Countrywide that was going bankrupt earlier this year with 7.2% of its servicing portfolio delinquent and was bailed out by Bank of America. The same Countrywide currently under investigation.
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