Search
 

Funny Politics: Two Senators Walk Into a Bank

Politics is a funny game to watch, probably even more bizarre from the inside.

By Sarah Snell Cooke | Updated on June 24, 2008

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.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.