Berkeley CSUA MOTD:Entry 50261
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2017/11/23 [General] UID:1000 Activity:popular
11/23   

2008/6/15-20 [Politics/Domestic, Politics/Domestic/President] UID:50261 Activity:nil
6/14    More Republican loan scandals in the media:
        http://www.bloomberg.com/apps/news?pid=20601087&sid=aG8uEA1VgMVs
        Why do Republicans thing they're special?  These guys should be
        charged and kicked out of office.
        \_ You're being ironic, right?  ^Republican^All Politicians
           \- "studies show" senators beat the pants off of wall street
              professionals when it comes to managing their own money.
              i.e. lots of access -> insider trading going on and this
              kind of "petit corruption" is de rigeur.
              YMWTGF(ZIOBROWSKI, JFQA). --psb
           \_ Actually, all six that have so far been found to get sweet heart
              loan deals were democrats.  Thankfully they came into office in
              2006 to clean house and put an end to the culture of corruption!
2017/11/23 [General] UID:1000 Activity:popular
11/23   

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www.bloomberg.com/apps/news?pid=20601087&sid=aG8uEA1VgMVs
It appears Countrywide waived one point on my mortgage,'' Conrad, a North Dakota Democrat, said in a statement today in Washington. He said he had decided to refinance that loan with another institution. Christopher Dodd, who oversees the US mortgage industry as chairman of the Senate Banking Committee, were among those who received loans through Countrywide's VIP'' program, which waived points, fees and borrowing rules for prominent people, Portfolio magazine reported June 12. He never expected, asked for or was aware of any special treatment,'' Conrad's spokesman, Chris Thorne, said. Jumana Bauwens, a spokeswoman for Countrywide, wasn't immediately returned. Conrad received two loans from Countrywide, one for $1 million to refinance a vacation home and another for the eight- unit building in Bismarck, according to Portfolio. Angelo Mozilo told an employee to take off one point'' from the vacation-home loan, which saved Conrad $10,700, the magazine said. The apartment loan violated Countrywide's policy of not loaning money for buildings with more than four units, Portfolio said. The story said Mozilo told an employee to make an exception for Conrad. Conrad's 2007 financial disclosure form listed a single Countrywide loan among his liabilities. It says he took out a 30-year fixed-rate mortgage for the apartment building in 2004 with an interest rate of 575 percent. Dodd's Loans Dodd got two loans in 2003, borrowing $506,000 to refinance his Washington townhouse and $275,042 to refinance a house in East Haddam, Connecticut, Portfolio reported. Countrywide waived three-eighths of a point, or about $2,000, on the first loan, and one-fourth of a point, about $700, on the second, the magazine said, citing internal documents.