Reply #10: Sen Dodd is likely innocent of any wrongdoing

[TayTay]

http://www.dailykos.com/story/2009/7/29/759236/-Two-different-senators,-two-different-stories">Front-page DKos diary on this notes the following:

First, let's look at Dodd's situation:

1. Dodd's defenders say his first contact with Countrywide on the loans in question came when his wife called up the company using a 1-800 number from their website. The testimony was consistent with this.
   
   
2. According to Dodd, he was automatically enrolled in a VIP program, but not at his request. The testimony was also consistent with this.
   
   
3. Based on a review of publicly available loan rates by Dodd's office and media reports, Dodd did not receive preferential treatment on the terms of his loan. Dodd and his wife both have excellent credit scores. The loans they took -- 5/1 Jumbo ARMs -- were offered with initial 4.25% and 4.5% interest rates, which were at or above the market rate at the time. (Dodd's website has details on this, including links to independent media validation of this point.)
   
   
4. The one "deal" Dodd may have have gotten was the waiver of up-front points on the loans, a $2,700 benefit. However, such waivers are common, and given that Dodd could have gotten a cheaper loan with a different lender, the benefit does not appear substantial.
   

The diary is nowhere near that nice when it comes to the treatment that Sen. Kent Conrad got. He appears to be on much shakier grounds in terms of soliciting special treatment.