Senator Dodd Update

While Dodd has demanded that regulators get to the bottom of any crimes by Bernard Madoff, he has played a cat and mouse game in keeping the documents about his dealing with Countrywide Financial under wraps. What is known is that he got favored treatment from the subprime mortgage company in 2003 while at the head of the Banking Committee that regulates the industry.

Dodd had promised a number of times that he would provide the necessary documents and details of the loans. As of February 1, 2009, the documents are still not forthcoming. What is known is that Dodd and his wife financed two properties through Countrywide and got preferential rates and had fees waived on the loans. It was part of a VIP program that the company had for "friends of the company."
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