AP: FBI Investigating Fannie, Freddie, Lehman & AIG

by Keli Tue Sep 23, 2008 7:24 pm

AP: FBI Investigating Fannie, Freddie, Lehman & AIG
Fox News

GOOD!

by Aaron Wed Sep 24, 2008 9:31 am

They should. And anyone found in any violation of any federal law should be prosecuted to the fullest extent of the law. But we all know that’s not going to happen.

by **ohio county** Wed Sep 24, 2008 9:40 am

JOhn Fund was on Lou DObbs last night. He said that he had "no doubt" that somebody was going to prison. He said that traders at Lehman, Goldman Sachs, AIG, and Countrywide all knew that Fannie Mae was cooking the books. Also they'll be looking at Chris Dodd for taking a subprime loan from Countrywide.

by Aaron Wed Sep 24, 2008 10:02 am

Chris Dodd spent his entire Presidential campaign spouting off at how he was the most qualified in regards to the financial community. IMO, he should at the very least be removed from the banking committee. Personally, I'l like to see him thrown out of Congress.

I read an article this morning about how Congress is starting to ask questions about this bailout. IMO, they can't ask enough questions and Dodd and his committee should be put on the spot to answer these questions with more then a doomsday, the cliff is approach answers.

by sodbuster Wed Sep 24, 2008 10:25 am

Isn't the Dodd loan the same one that got vetted during the Primaries?

If so, he paid the going rate as I recall.

And OC are you sure about it being subprime?

I wouldnt think he would need a subprime.

by **ohio county** Wed Sep 24, 2008 11:00 am

He got a subprime loan from Countrywide. I don't care if it was vetted or not.

by Aaron Wed Sep 24, 2008 11:14 am

For the two loans, Dodd is paying almost $4,000.00 per month. Not bad for a US Senator making less then $170,000 per year.

And if he doesn't like either of those homes, he can always go to his vacation home in Connemara, Ireland.

Not bad for a Senator that's not independently wealthy like Rockefeller.

According to Conde Nast Portfolio, which broke the story, Dodd refinanced his Washington townhouse with a loan of $506,000 and refinanced his East Haddam home for $275,042. Dodd's East Haddam home has a spectacular view of the Connecticut River, and he held a press conference overlooking the water there when he returned home from Iowa after his unsuccessful presidential bid. Some of the state's top Democratic politicians, including much of the Congressional delegation, gathered with Dodd in East Haddam to celebrate his homecoming.

The Conde Nast article stated that Dodd's 30-year loans were both designed to be at 4.875 percent, but the East Haddam loan was reduced to 4.5 percent and the Washington loan was dropped to 4.25 percent. Over the life of the loans, that saved the Dodds about $58,000 on their Washington home and $17,000 on the East Haddam home, according to the article. Countrywide also waived three-eighths of a point on one loan and one quarter of a point on the other.

source

by sodbuster Wed Sep 24, 2008 11:17 am

So work with me here.

Do Senators not need homes (and therefore mortgages) like the rest of us.?

What exactly did Dodd do to earn your ire?

by **ohio county** Wed Sep 24, 2008 11:25 am

Dodd should have recognized that Fannie Mae's management team was on the take. He should have called for investigations and hearings. Because he was number one on their list of political contributions, he did not. Sure, he needs a place to live even though he's never worked a day in his life. Today he had the chutzpah to insist that any bailout address greater Congressional oversight. He should be the first one in prison.

by Aaron Wed Sep 24, 2008 1:24 pm

I agree with Jimmy. As the self proclaimed expert, Dodd had to have known and did nothing. Yes, he, along with many others should the same punishment as Kenneth Lay, Richard Causey and Jeffrey Skilling.

by **ohio county** Wed Sep 24, 2008 2:29 pm

If I'm not mistaken Kenneth Lay is dead. Dodd needs to fall on his sword.

by Keli Wed Sep 24, 2008 2:39 pm

ohio county wrote:JOhn Fund was on Lou DObbs last night. He said that he had "no doubt" that somebody was going to prison. He said that traders at Lehman, Goldman Sachs, AIG, and Countrywide all knew that Fannie Mae was cooking the books. Also they'll be looking at Chris Dodd for taking a subprime loan from Countrywide.

Is that a Jesco White avatar? Are you a dancer, Mr. County?

by Aaron Wed Sep 24, 2008 2:54 pm

Yeah, Ken Lay is dead. He passed away before he was sentenced so the indictment and conviction against him were abated.

Part of his defense was that Enron's collapse was due to a "conspiracy" waged by short sellers, rogue executives, and the news media.

Sound vaguely familiar?

by **ohio county** Wed Sep 24, 2008 3:06 pm

What is dancing but walking rhythmically? No. I have no rhythm. I do have a Jesco White avatar though.

Larry Kudlow says that short sellers keep the market honest. I don't know. Larry Kudlow also likes Paulson sailo...I mean, bailout.

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AP: FBI Investigating Fannie, Freddie, Lehman & AIG

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