February 8, 2009

CHRIS DODD UPDATE: From the Stamford Advocate:

In the wake of the latest revelations concerning U.S. Sen. Christopher J. Dodd and his controversial mortgage dealings, the same question arises again: How could such an experienced politician have handled this so clumsily?

The situation first came to light when Portfolio magazine last year reported Sen. Dodd and his wife may have been granted improper treatment by Countrywide Financial Corp. The news would have been troubling in any event, but the fact that Countrywide was in the midst of an epic collapse in the national subprime mortgage market and that he is chairman of the Senate Banking Committee, which wields considerable authority over the nation’s financial sector, brought the potential scandal to a new level.

This week, the Dodds finally responded to requests they have dodged since last summer to reveal their Countrywide dealings in detail. Reporters, though, were not allowed to make copies or take away any documents. In a situation that demands transparency, this was another unforced error.


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