The Senate Select Committee on Ethics is dismissing complaints against two Democrats, Senator Christopher J. Dodd of Connecticut and Senator Kent Conrad of North Dakota, over allegations that they received improper discounts on home mortgages from Countrywide Financial, the home lending giant.Of course this doesn't mean Dodd didn't get himself a nice discount.
The ethics committee is also planning to propose legislation that would require mortgage information to be included on the financial disclosure forms that senators are required to file annually.
Heck, we'd all love the kind of courtesy that would have saved Mr. Dodd $75,000 over the life of the two loans he refinanced to the tune of $800,000, according to an analysis by Portfolio magazine. The savings came from rock-bottom interest rates and a free "float-down" -- the right to borrow at a lower rate if interest rates fall before you've closed on the loan.Then, of course, there's that Irish cottage...
But hey, who are we to complain? They're Democrats. They can do as they please.