Newspaper Takes Dodd's Side on Mortgages

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Connecticut Sen. Christopher J. Dodd got some backup Friday from one of his state's most influential papers.

CQ Photo

The Hartford Courant wrote in an editorial that despite mishandling the issue, "the evidence supports" Dodd's claims that he did not get a preferential deal on two mortgages he refinanced with Countrywide Financial, the mortgage giant that collapsed in 2008.

"The senator and his wife, Jackie Clegg Dodd, negotiated interest rates and terms widely available in the marketplace when they refinanced the two homes. That's not special treatment," the editorial concluded.

An accompanying op-ed by William Cibes, former head of the state Office of Policy and Management, called the story about Dodd's mortgages "a phony scandal."

"The perpetrators of the 'sweetheart deal' narrative owe Chris Dodd an apology," wrote Cibes, who ran in the Democratic primary for governor in 1990.

The Courant's editorials give Dodd a big assist as he tries to swat back a new round of scrutiny about his mortgages and his involvement in the now-notorious "Friends of Angelo" VIP program, named after Countrywide CEO Angelo Mozilo. Mozilo was charged with insider trading by the SEC in June.

Fanning the flames was an AP story published Monday that reported on secret testimony former Countrywide employee Robert Feinberg gave House and Senate investigators alleging that Dodd and North Dakota Sen. Kent Conrad knew they were receiving preferential treatment as part of the VIP program.

Dodd aides point out Feinberg's claims are not new, and the Senator, himself, has repeatedly denied seeking out preferential treatment or being aware he was receiving any. Moreover, as the Courant editorials underscore, Dodd's mortgage terms were widely available at the time.

Nevertheless, the recurring headlines on the issue have wounded Dodd politically as he prepares to seek a sixth term in 2010, dragging down his approval ratings in Connecticut and leaving him trailing former Republican Rep. Rob Simmons in a hypothetical match-up.

    Comments

  1. Fair or not, I wonder if Angelo is going to be the new Jack Abramoff? The Dems got a lot of traction off of that.

    Posted by: NObama Author Profile Page | July 31, 2009 6:30 PM

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