Conrad Needs More Criticism on Countrywide Controversy

Posted: Jun 18, 2008 1:01 PM

I've got a new story up. Here's the lede:

The role that Senate Budget Committee Chairman Kent Conrad (D.-N.D.) played in greasing the skids for Sen. Chris Dodd’s multibillion mortgage bailout is being overlooked.

Both Democratic senators are being fiercely criticized after Portfolio magazine published a story stating they had received “VIP” discounts from Countrywide CEO Angelo Mozilo on their home loans-- which has not been refuted by either Dodd or Conrad. Although Dodd is bearing the brunt of those criticisms, both senators had major roles in crafting legislation to benefit Countrywide to the tune of billions of taxpayer dollars.

Despite the obvious conflict of interest, the legislation could come up for a Senate vote as early as today.