Joe Biden
	Barack Obama

Commentary On Fannie Mae Contributions To Democrats

Daniel Golden, "Countrywide's Many 'Friends'," Portfolio,6/12/08

Lindsay Renick Mayer, "Fannie Mae And Freddie Mac Invest In Lawmakers," Center For Responsive Politics' "Capital Eye" Blog, www.opensecrets.org, 9/11/08

Richard Parker, Op-Ed, "Chris Dodd's VIP Treatment," The Boston Globe, 7/4/08

Al Hubbard and Noam Neusner, Op-Ed, "Where Was Sen. Dodd?" The Washington Post, 9/12/08

Chris Dodd

In 2003, Dodd, Chairman Of The Senate Banking Committee, Received Preferential Loans From Countrywide Financial On His Two Homes Which Saved Him $75,000. "Senators Christopher Dodd, Democrat from Connecticut and chairman of the Banking Committee, and Kent Conrad, Democrat from North Dakota, chairman of the Budget Committee and a member of the Finance Committee, refinanced properties through Countrywide's 'V.I.P.' program in 2003 and 2004, according to company documents and emails and a former employee familiar with the loans. … Senator Dodd received two loans in 2003 through Countrywide's V.I.P. program. He borrowed $506,000 to refinance his Washington townhouse, and $275,042 to refinance a home in East Haddam, Connecticut. 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, according to internal documents. Both loans were for 30 years, with the first five years at a fixed rate. The interest rate on the loans, originally pegged at 4.875%, was reduced to 4.25% on the Washington home and 4.5% on the Connecticut property by the time the loans were funded. The lower rates save the senator about $58,000 on his Washington residence over the life of the loan, and $17,000 on the Connecticut home." (Daniel Golden, "Countrywide's Many 'Friends,'" Portfolio,6/12/08)

Like Father, Like Son: Dodd's Father Was Censured In The U.S. Senate For Personal Misappropriation Of More Than $100,000 In Campaign Funds. "Forty years ago, Dodd's father, the late Senator Thomas Dodd, was officially censured for personal misappropriation of more than $100,000 in campaign contributions. It ruined him as a senator and a man…" (Richard Parker, Op-Ed, "Chris Dodd's VIP Treatment," The Boston Globe, 7/4/08)

Dodd, Along With Sen. Schumer And Rep. Frank Protected Fannie Mae And Freddie Mac. "The powerhouse Democratic overseers of the banking committees -- Rep. Barney Frank, Sen. Christopher Dodd and Sen. Chuck Schumer -- protected Fannie and Freddie." (Robert Novak, Op-Ed, "Crony Image Dogs Paulson's Rescue Effort," Chicago Sun-Times, 7/17/08)

Dodd Long Resisted Tougher Regulation Of Fannie Mae And Freddie Mac. "Chris Dodd … long resisted tougher regulation while more recently handing Fan and Fred even more room to expand their risk-taking." (Editorial, "Fannie And Freddie's Enablers," The Wall Street Journal, 7/21/08)

Dodd Derided Critics Of Fannie Mae And Freddie Mac. "At a February hearing, [Dodd] derided critics who he said were 'repeatedly raising alarm bells about the risks Fannie and Freddie pose to the financial system.'" (Editorial, "Fannie And Freddie's Enablers," The Wall Street Journal, 7/21/08)

"You May Also Remember Mr. Dodd As The Fellow Who Got A Sweetheart Mortgage From Former Countrywide Financial CEO Angelo Mozilo, Who Was Thick As Thieves With Fannie Mae." (Editorial, "Fannie And Freddie's Enablers," The Wall Street Journal, 7/21/08)

Dodd Promoted Fannie Mae And Freddie Mac As Mortgage Saviors. "The double irony amid the current credit crunch is that our politicians have been promoting Fannie and Freddie as mortgage saviors even as their risk of insolvency has grown. Chuck Schumer, Chris Dodd and many others have encouraged the duo to take on even greater mortgage risk as the housing slump has unfolded. They're the arsonists posing as firemen while putting more dry tinder around the blaze." (Editorial, "The Price of Fannie Mae," The Wall Street Journal, 7/10/08)

Dodd Was Co-Chairman Of The DNC During The Democrat Party's Fundraising Scandals Of The 1990s. "Isn't this the same Christopher Dodd who was actually co-chairman of the DNC when John Huang was collecting those millions of dollars in apparently illegal campaign contributions, and setting up an illegal fund-raiser for Vice President Al Gore at a Buddhist temple -complete with reportedly laundered $5,000 contributions? The same Chris Dodd who was in charge of the DNC when fundraisers were handing out invitations to heavy-hitters for coffee with the president in the White House Map Room - meetings that the Los Angeles Times and Boston Globe report led to $27 million in contributions?" (Editorial, "Step Aside, Mr. Dodd," The Washington Times, 2/12/97)

• "Connecticut Businessman James Belcher Told Roll Call's Ed Henry That 'Dodd's Staff' At The DNC Invited Him To A White House Coffee On Dec. 21, 1995, The Same Day Belcher Donated $50,000 To The DNC And A Few Months After Belcher Says Dodd Intervened With The State Department On Behalf Of Belcher's Business. Dodd Flatly Denied That He Attended The Coffee - Also Attended By A Mafia-Connected Stock-Promoter –"But Belcher Said That He Saw Dodd There And Spoke To Him. Dodd's Spokeswoman Now Admits The Senator May Have Been There." (Editorial, "Dodd's Dissembling," Roll Call, 2/20/97)

• "A Connecticut Businessman Who Contributed $120,000 To The Democratic National Committee In The Last Election Cycle Says He Did So After Sen. Chris Dodd (D-Conn), Who Was Then DNC General Chairman, Lobbied The State Department On His Behalf." (Ed Henry, "Dodd's Coffee Ties:DNC Chairman Aided Businessman Who Gave $120K," Roll Call, 2/20/97)

In Just Four Years, Obama Has Received More Money From Fannie Mae And Freddie Mac Than Any Other Member Of Congress In The Past Two Decades (Since 1989) Except Senate Banking Committee Chairman Sen. Chris Dodd. (Lindsay Renick Mayer, "Fannie Mae And Freddie Mac Invest In Lawmakers," Center For Responsive Politics' "Capital Eye" Blog, www.opensecrets.org, 9/11/08)

• Since 1989, Dodd Has Received At Least $165,400 From Fannie Mae And Freddie Mac: $48,500 From PACs And $116,900 From Individuals, Receiving More Than Any Other Politician. (Lindsay Renick Mayer, "Fannie Mae And Freddie Mac Invest In Lawmakers," Center For Responsive Politics' "Capital Eye" Blog, www.opensecrets.org, 9/11/08)

Obama Joined Dodd – Both Top Recipients Of Fannie And Freddie Contributions In Actively Opposing Reform Measures And Weakening Existing Regulations. "During this period, Sen. Richard Shelby led a small group of legislators favoring reform, including fellow Republican Sens. John Sununu, Chuck Hagel and Elizabeth Dole. Meanwhile, Dodd -- who along with Democratic Sens. John Kerry, Barack Obama and Hillary Clinton were the top four recipients of Fannie and Freddie campaign contributions from 1988 to 2008 -- actively opposed such measures and further weakened existing regulation." (Al Hubbard and Noam Neusner, Op-Ed, "Where Was Sen. Dodd?" The Washington Post, 9/12/08)

 

Obama On Dodd: "He is respected on both sides of the aisle for his authenticity, reason, and civility. And that is how, time and again, he's been able to bring Democrats and Republicans together to make a real difference in the lives of the American people." (Sen. Barack Obama, "Senator Chris Dodd Endorses Barack Obama For President," Press Release, 2/26/08)