THE COUNTRYWIDE SCANDAL: It’s not just Chris Dodd! Postal Service investigates boss’s VIP mortgage.
The Postal Service is investigating whether the nation’s postmaster general improperly received a sweetheart deal on a mortgage from Countrywide Financial Corp., the chairman of the service’s governing board said.
Postmaster General John E. Potter is one of several prominent current and former U.S. officials who received discounts and other benefits from the mortgage giant. The Postal Service has hired an outside investigator to review the deal, which reportedly included one shaved point and waived fees for Potter’s $322,700 loan. . . .
Sens. Christopher Dodd, D-Conn., and Kent Conrad, D-N.D., have acknowledged receiving mortgages through the VIP program but have said they were unaware of any favorable treatment. Dodd was instrumental in crafting a $700 billion bailout for the financial industry.
Stay tuned — there are more “friends of Angelo” out there, I suspect.