The real investigation should be on how Dodd was able to qualify for mortgages on three residences on just a Senator’s income. Dodd owns a condo in Washington D.C., a house in Connecticut and a part of a third property in Ireland. The cottage in Ireland was purchased in a strange deal with two partners, one of whom was convicted of tax and securities fraud but was later pardoned by President Clinton at the request of Senator Dodd.
The Dodd affair was ignored in Washington but it was big news in Connecticut. It’s a fair guess to say that Chris Dodd decided not to seek reelection to avoid the scrutiny in Connecticut, says our source. The Harford (CT) Courant was hounding him.
Our source ponders:
The impacts on federal banking policy however will survive his terms in office. Did Chris Dodd decide to steer his part of the Dodd-Frank FinReg bill so far to the left as a form of strange “Act of Contrition” in light of his own (alleged) financial manipulations of the mortgage credit business?