In a not-too-surprising move, a Senate ethics panel "cleared" chris Dodd of wrongdoing in connection with his sweetheart loan from Countrywide. Under that loan, Dodd borrowed about three quarters of a million dollars at a rate about 2% under the then current market. That means that Dodd gets annual savings of $15,000 over the life of the 30 year loan, a total savings of $450,000. According to the Senate panel, Dodd did nothing sufficiently wrong to warrant sanctioning him, although the panel did say that he should have been more careful to avoid the appearance of impropriety.
Are they kidding? If anyone other than a sitting Senator had gotten a payoff of $450,000 over thirty years from a company that he or she regulated, the fools in the Senate would be on their high horses yelling that it was corporate misdeeds and greed run amok. Like healthcare, there is one set of rules for senators and another for the rest of us.
Now we will all be treated to Dodd telling the world repeatedly how the charges against him were baseless and he was cleared in all respects. what's next? Maybe Al Qaeda will issue a report clearing Osama Bin Laden of wrongdoing in connection with 9-11. DODD HAS TO GO!!!!!!!
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