Posts Tagged ‘tax cheat’

Charlie Rangel’s Bogus Attack On Mitt Romney As Some Kind Of Tax Cheat Qualifies Him As A Poster Boy For Abject Democrat Hypocrisy

September 21, 2012

The Democrat Party is THE party of dishonesty, hypocrisy and moral idiocy.  From Hot Air:

Congressionally censured tax cheat tells Romney ‘Americans pay their taxes, unlike you.’
posted at 12:01 pm on September 20, 2012 by Mary Katharine Ham

Chutzpah, thy name is Charlie Rangel:

“Nothing can be further from the truth than Gov. Romney’s ridiculous remarks that nearly half of American people do not pay federal income taxes, they pay other federal and state taxes. The 47 percent figure cited by the Republican presidential candidate covers only the federal income tax and ignores the fact that people may pay a higher percentage of their income on a wide variety of taxes.

Everyone pays taxes. Lower income persons pay state and local, property, excise and sales taxes. In fact, when all federal, state, and local taxes are taken into account, the bottom fifth of households pays about 16 percent of their incomes in taxes, on average. The second-poorest fifth pays about 21 percent. This is higher than what the Governor has paid in income taxes. He has absolutely no moral authority to accuse nearly half of the American people of being irresponsible and freeloaders.”

Speaking of “absolutely no moral authority,” let’s go over Rangel’s record, who was censured by the House of Representatives for a multitude of tax and ethics violations made while he was in charge of writing the nation’s tax policy as Chairman of the House Ways and Means Committee.

Rep. Charlie Rangel amended his financial disclosure forms under pressure in 2009 to show “that he had omitted an array of assets, business transactions and sources of income. They include a Merrill Lynch Global account valued between $250,000 and $500,000; tens of thousands of dollars in municipal bonds; and $30,000 to $100,000 in rent from a multifamily brownstone building he owned on West 132nd Street.” That wasn’t all. “The latest filings come on top of an amendment to Mr. Rangel’s 2007 disclosure form reported this week showing that he had failed to list at least $500,000 in assets.” The new disclosures doubled Rangel’s net worth.

Rep. Charlie Rangel rented several apartments in Harlem at suspiciously below-market rates from a big campaign donor, combining several to create his home while using one of them as a campaign office. That was a violation of rent-control laws, which require rent-controlled apartments to be used as residences.

Rep. Charlie Rangel parked his Mercedes for free in a Congressional parking space for about five years, never declaring the approximate $300 monthly fee on his taxes, as IRS rules require. Luckily, the House Ethics committee determined that he didn’t violate any rules because they only apply rules about parking to staff, not members.

Rep. Charlie Rangel used Congressional letterhead to solicit donations for the Charles B. Rangel Center for Public Service at the City College of New York from companies that might have significant interests in the policy making of his committee, a move ethicists said “crossed the line.” He’d already funneled federal earmarks for the center.

Later, one of the big donors to the Charles B. Rangel Center for Public Service benefitted richly when Rangel changed his position on closing a tax loophole.

Rep. Charlie Rangel failed to report $75,000 in rental income or pay taxes on a Dominican villa he owned, causing the New York Times to call for him to step down from his Ways and Means Chairmanship.

In 2008, Rep. Charlie Rangel was forced to pay back taxes on rental income on his villa in the Dominican Republic— a property he was advised to buy by one of his donors and for which he later received preferential treatment when the interest rate on his mortgage was waived.

Rep. Charlie Rangel took the “Property Homestead Deduction Act” tax break on his Washington, D.C. residence for five years, despite the fact that he maintained his primary residence in New York for electoral reasons. Lawmakers who maintain a residence in D.C. but must also maintain a primary residence in their districts are not eligible for the homestead break, tax lawyers told the NY Post.

Rangel is one of the most demonstrably corrupt manipulators of the tax code in Washington, and his longtime position as the guy who wrote tax code for the rest of us makes the corruption all the more despicable.

The headline on his press release should have been, “Americans pay their fair share in taxes, unlike me.”

H/t Village Voice.

Well, little people and Republicans.

If you take away Mitt Romney’s considerable charitable giving, he’s actually paying a tax rate of 42%.  But it doesn’t matter to Democrats that Mitt Romney has given 15% of his income to charity versus Obama who is the most caring man who ever lived but gave less than one measly percent of his wealth to charity.

There is ZERO evidence that Mitt Romney has failed to pay so much as a DIME of taxes that he has owed.  Versus dishonest cockroach liars like Charlie Rangel.

But being the party of rabid dishonesty and hypocrisy, it is no wonder that the Democrat Party would allow Rangel to make such a complete hypocrite ass out of himself.

Obama Camp Says Romney An Animal Abusing, Tax Dodging Criminal Who Kills Women With Cancer While Plotting To Reinstitute Slavery. Media Says Romney To Blame For Negative Campaign

August 17, 2012

There are stupid people.  There are truly stupid people.  There are pathologically stupid people.  And then there are liberals who literally use what little brains they have to become even MORE stupid.

Look Who the Press Is Blaming for the Ugly Campaign
Posted 06:58 PM ET

Media Bias: What a surprise. Mitt Romney finally throws a counterpunch to a series of outrageous Obama campaign lies, and the press accuses Romney of going negative. The media’s pro-Obama bias is a wonder to behold.

For months, the Obama campaign has offered the public nothing but lies and distortions about Romney’s record and his position on the issues.

In a series of ads, statements and comments to the press, Obama and his backers labeled Romney an outsourcer, a felon and a tax cheat. They said he wants to “gut Medicare,” outlaw all abortions, even in the case of rape and incest, and put people “back in chains.”

And then an Obama super-PAC ad blamed Romney for causing a woman’s cancer death.

There’s no evidence to back up any of these claims, and most have been thoroughly debunked. But they just keep rolling them out.

So on Tuesday, Romney forcefully hit back at Obama for “wild and reckless accusations that disgrace the office of the presidency . .. President Obama knows better, promised better and America deserves better.”

So which candidate is the press complaining about?

In a front page story on Wednesday, the Washington Post attacked Romney, not Obama, for adding “an even uglier tone” to the campaign.

Romney “lashed out” with the “harshest rhetoric of his campaign,” it said. He’s “ratcheted up his criticism” and is using “increasingly hot language.”

The story went on to complain that, largely thanks to Romney, any hope that putting Paul Ryan on the ticket “would elevate the conversation… has not come to be.”

And it quoted an Obama campaign official about how Romney’s comments “seemed unhinged.”

But you will search that Post story in vain for any reference to the series of bogus claims made by team Obama about Romney’s tenure at Bain. You won’t find a mention of Sen. Harry Reid’s completely unfounded accusations that Romney didn’t pay taxes for 10 years.

There’s no mention of the Obama campaign’s repeated false claims that Romney opposes abortion even in the case of rape and incest — which earned a “pants on fire” rating by Politifact for being so blatantly false.

And while it mentions that despicable Obama superPAC ad, the Post story fails to explain it was wrong on all the key facts, or mention how Obama campaign aides lied about knowing about the ad before it aired.

Let’s see if we’ve got this straight. Obama hurls character-assassinating lies at Romney for months and is greeted with media yawns. But when Romney calls Obama on it, the press accuses Romney of going negative?

And the mainstream press still wants to claim that it’s impartial?

This reminds me of the Obama who has now tried to incite black people and Hispanics to hate white people, poor people to hate rich people, women to hate men, gays to hate straights, workers to hate employers, illegal immigrants to hate citizens, etc. etc. saying, “I don’t think anyone would suggest I’ve tried to divide the country.”  When he is in fact the most polarizing and the most divisive president in American history bar NONE.

And what we are seeing – and have been seeing – from the mainstream media rivals Stalinist Russia or Maoist China in its sheer determination to hide the truth and spread propaganda.

Claire McCaskill Joins the Ranks Of Hypocrite Democrat Tax Cheats

March 22, 2011

How many reasons are there to vote out Claire McCaskill at the first opportunity in 2012?

You really only need one: she was a weasel who voted for ObamaCare and then basically pretended she hadn’t:

It Begins. State-Run Media Whitewashes McCaskill’s Obamacare Voting Record
Posted by Jim Hoft on Tuesday, February 8, 2011, 8:04 PM

Liberal Missouri Senator Claire McCaskill is in big trouble.

(MLive)

Thank goodness Claire can count on the media to help her out.
The press started spreading the rumor this week that McCaskill is questioning Obamacare even though she not only supported the plan, but also traveled the state promoting it at townhall meetings.
Jake Wagman at The St. Louis Post Dispatch reported:

With 2012 Republican opposition already circling, U.S. Sen. Claire McCaskill continues to question a key component of the president’s health care plan.

Politico has McCaskill, who’s already attracted two GOP contenders hoping to unseat her, joining a band of moderate Senate Democrats exploring ways to replace the mandate portion of the health care legislation approved by Congress last year.

McCaskill told Politico writer Manu Raju that they are looking for something “less than a mandate,” such as limited enrollment periods with financial penalties for not signing up. (That’s not a mandate?)

“It may be that the mandate is the only way we can do it,” McCaskill said. “But I think we should explore it.”

Under the plan signed into law last year, individuals could eventually face a fine of up to 2.5 percent of their income for not having insurance.

Of course, they forgot to mention this…
When McCaskill had the opportunity to remove the mandate during Senate negotiations in 2010, she refused. Instead, she voted to keep the mandate in the bill by killing a Republican amendment (H.R. 4872, CQ Vote #101: Motion agreed to 58-40: R 0-40; D 56-0; I 2-0, 3/25/10, McCaskill Voted Yea).

Lloyd Smith, Executive Director of the Missouri Republican Party, said this:

“Claire McCaskill voted to keep the unconstitutional individual mandate in the health care bill, she cast the deciding vote in favor of Obamacare, and then she traveled the state in support of the law. McCaskill had plenty of opportunities to seek alternatives to the individual mandate, but instead, she sided with Barack Obama every chance she got and forced costly, burdensome, and unconstitutional regulations on every single Missourian. McCaskill’s sudden election-cycle repentance is too little, too late.”

When ObamaCare was passed via every imaginable shenanigan, it was unpopular with the American people.  And now, having had a chance to see it, to see the huge cost increases its causing, to see the thousand-plus waivers (Constitution “equal treatment under the law alert) as even LABOR UNIONS try to bail out of it, and to see even BLUE STATES trying to weasel out of it, it is more unpopular than ever.

Claire McCaskill voted for an evil and immoral law.  And that alone is enough to kick her butt right out of office.

But if that wasn’t a good enough reason, here’s another damn fine reason to get her stink out of the United States Senate:

Posted at 03:59 PM ET, 03/21/2011
Claire McCaskill admits to $287,000 in unpaid taxes on private plane
By Rachel Weiner

Missouri Democratic Sen. Claire McCaskill admitted Monday that she had failed to pay about $287,000 in back taxes and will sell a private plane that has created considerable controversy as she prepares to run for a second term in 2012.

“I have convinced my husband to sell the damn plane,” McCaskill told reporters on a conference call Monday afternoon. “I will not be setting foot on the plane ever again.”

McCaskill and her husband, Joe Shepard, co-own the eight-seat, two-engine plane with other investors. They bought it in July of 2006 through Sunset Cove Associates, an LLC her husband incorporated in 2002.

The tax revelations are the only the latest problem for McCaskill involving the plane,however.

In the wake of a Politico report that had billed the government for her travel on the aircraft, she quickly reimbursed taxpayers for the trips, hoping to avoid a protracted political problem.

But, it was then revealed that she had billed taxpayers for a purely political trip — deepening her potential exposure on the issue.

On the conference call, McCaskill said that after she discovered the political trip on the plane she conducted an extensive audit of all the times she used it. That search turned up the fact that she had not paid personal property taxes on the aircraft totaling $287,273. (Not all states charge these taxes, and because planes are not registered with the state or the county, she was never billed.) The senator said she understood that Missourians would be confused about how this happened, but insisted it was an honest mistake. “I’m being held accountable, like I should be,” she said. “I made this mistake.”

Republicans, not surprisingly, have had a field day with McCaskill’s plane problems. The Missouri Republican Party has filed an ethics complaint against her while the National Republican Senatorial Committee is demanding she release tax records for the company that leases the plane, along with more information on each of the flights she took.

“This raises very serious questions for Senator McCaskill’s re-election bid because if there are two things voters don’t like, it’s a hypocrite and a tax cheat, and Senator McCaskill just admitted to being both,” said NRSC executive director Rob Jesmer. The NRSC is also circulating a web video that features the incumbent saying: “If my walk doesn’t match my talk, then shame on me and don’t ever vote for me again.”

McCaskill, herself, acknowledged the trouble the plane issue has caused her on today’s call. “It sounded like a good idea, but it’s very expensive and its very complicated,” she said. “I think it does complicate things for the public.”

ANY public official who doesn’t pay their income taxes deserves to be hunted down with dogs and then burned alive.

But when that public official is a Democrat who literally makes a living saying other people “need to pay their fair share,” they should be tarred and feathered before they’re let loose so the Rottweilers can hunt them down.

I couldn’t be more sick and tired of self-righteous hypoctire liberal rat bastard filth Democrats making “honest mistakes” as they fail to pay their taxes.  You know what I’d like to see?  A Democrat make an “honest misktake” and finally for once in their lives making an ACTUAL honest mistake and paying TOO MUCH in the taxes they loudly demand everybody else pay.

Charlie Rangel – who sat on the House Ways and Means Committee and in fact was the CHAIRMAN of that committee that writes our damn tax laws - made an “honest mistake” in assuming that he somehow should be REPEATEDLY exempted from the laws he expected everybody else to follow.

John Kerry – who was the 2004 Democrat candidate for president of the United States – made an “honest mistake” when he decided he should screw his state in taxes he owed on his yacht and instead acted exactly like the corporations that move jobs offshore that people like him constantly demonize.  Because he damn sure moved his yacht offshore to avoid paying his taxes.

Treasury Secretary Timothy Geithner is smart enough to run our nations entire financial system, but too damn stupid to avoid making that “honest mistake” that would have meant paying his taxes.

They’re hardly alone.  And they are just two examples of Democrats whose vile party and whose wicked electorates will never hold them accountable for their lies and their frauds.

Hopefully, Claire McCaskill will be different as the people of Missouri say “hell no!” to her kind of weasel politician less than 20 months from now.

Democrats Protect Taxpayer-Paid Tax Cheating Federal Employees

March 8, 2010

Does it bother you that Obama’s Secretary of the Treasury is a documented tax cheat?  Does it bother you that Charles Rangel, the Chairman of the House Ways and Means Committee who wrote our nation’s tax laws, is a big time documented tax cheat?

If you answered “no,” you are a Democrat.  And a hypocrite.

It is amazing how many wealthy Democrats there are – both in elected or political office and in the private sector – who think high taxes are great, and then do everything they can to avoid the very high taxes they want everyone else to pay.

What follows is a demonstration of the fact that Democrats want to shelter government employees – who are paid with YOUR money – from being responsible for the legitimate consequences which should follow from working for the very government you are screwing.

Why would the Democrats take such a repugnant stand?  Two reasons: 1) Most government employees are unionized; 2) these unions support and work for Democrats.

Provision to fire tax-delinquent federal employees pulled
By Robert Brodsky  rbrodsky@govexec.com  March 4, 2010

A legislative compromise that would have allowed agencies to fire tax-delinquent federal employees fell apart on Thursday.

The compromise softened an amendment to the 2009 Contracting and Tax Accountability Act that Rep. Jason Chaffetz, R-Utah, introduced earlier this week. The act already would prohibit companies that don’t pay their taxes from winning federal contracts; Chaffetz’s amendment extended that principle to “seriously delinquent” federal employees and congressional staffers.

Modified language that would have provided federal employees with due process protection and a hardship exemption won support from House Oversight and Government Reform Committee Chairman Edolphus Towns, D-N.Y. But, Rep. Stephen Lynch, D-Mass., chairman of the Oversight and Government Reform subcommittee on the federal workforce, and other Democrats, said the compromise amendment still was unduly harsh because it defined delinquency as the issuance of a lien by the Internal Revenue Service, which could be an early stage in resolving a tax dispute.

Chaffetz, however, argued that the amendment offered protection to employees who were working to settle the tax disputes.

Democrats also raised concerns about whether the amendment would overburden the Office of Personnel Management, which would be responsible for administering the provision.

As debate over the provision disintegrated and Democrats called for an opportunity to hold a hearing, Towns pulled both the amendment and the bill from the floor and postponed a vote.

A committee source said there was too much “confusion” with the amendment and lingering issues needed to be resolved.

“We wanted to take a break to make sure there were no unintended consequences with the bill,” the source said.

But, Republicans accused the Democrats of protecting federal employees.

“I am thoroughly disappointed that Democrats rejected the chairman’s compromise and stubbornly refused to work with him on an effort to hold federal employees to the same standard as the private sector,” said Rep Darrell Issa, R-Calif., ranking member of the Oversight and Government Reform Committee. “There needs to be consequences for both contractors and federal employees who fail to pay their taxes.”

“Chairman Towns’ compromise proposal on my amendment was a sensible approach, and it’s puzzling that members on the other side didn’t agree,” Chaffetz said. “The IRS already has a similar policy in place and they have demonstrated that it works.”

Chaffetz said the tax delinquency rate for the Treasury Department — which includes the IRS – -is less than 1 percent, compared to 3.4 percent for the rest of the federal government. He said the government fails to collect roughly $1 billion in taxes annually from about 100,000 federal employees.

The committee source said it was not clear if the issues with the amendment would require a hearing or if they could be worked out in a private meeting with the IRS.

Imagine that: the very same Democrats who rushed the stimulus through so quickly that not one single elected member of Congress had a chance to read the damn bills, and the very same Democrats who have repeatedly tried to rush ObamaCare through, suddenly have found legislation that requires “taking a break” and “making sure there are no unintended consequences.”  An $862 billion stimulus package didn’t require that kind of consideration; a complete takeover of our health care system doesn’t require that kind of consideration; but firing tax cheating government employees is something that must be studied to the nth degree.

A 2,700-page Senate health care bill monstrosity can be rushed through by any means possible; but please, oh please let us not rush into getting rid of taxpayer-paid tax cheats.

The explanation that Democrats care about all the various nuances of rights that government workers who haven’t bothered to pay their taxes supposedly have is a joke: if they wanted to do anything about these taxpayer-paid tax cheats, they would have wheeled and dealed to get a bill.  The simple fact of the matter is that they didn’t WANT a bill.

Taxpayer-paid unionized government employees who cheat on their taxes have more money to fork over to Democrats.  And the Democrats who would never even consider tort reform because their lawsuit-happy lawyers wouldn’t like it are the very same Democrats who won’t step on their union supporters’ toes.  Over anything.

That’s the bottom line.

Rampant Democrat Corruption Extends To Most Powerful Leaders

July 29, 2009

Right now, three of the most powerful Democrats are documented corrupt scumbags.

Charles Rangel, Chairman of the powerful tax-writing House Ways and Means Committee is a tax cheat.  Chris Dodd, the Chairman of the Senate Banking Committee, took corrupt mortgage loans from a corrupt mortgage lender at the epicenter of the mortgage meltdown crisis.  Kent Conrad, the Chairman of the Senate Budget Committee, also took such loans.

These men are incredibly influential in the writing of laws and legislation that will absorb most of the economy under their power.  And they are corrupt.

We were entertained at the beginning of the Obama administration as it became painfully obvious that it was hard to find an honest Democrat who actually paid the taxes that they hypocritically wanted everyone else to pay.  Many fell by the wayside, but “Turbo Tax” Tim Geithner’s personal dishonesty in paying his taxes didn’t stand in the way of his being Obama’s choice to become the Treasury Secretary in charge of enforcing tax laws.

Let’s start with the man who writes your tax laws but doesn’t want to follow his own laws and pay his own taxes: Charles Rangel.

The man has all kinds of issues, such as selfishly and greedily taking rent-controlled property meant for poor people.  It’s hard to say which is worse, but don’t forget to consider what he did in buying pricey beachfront rental property and then refusing to pay taxes on his substantial income:

JULY 27, 2009, 4:28 P.M. ET

Morality and Charlie Rangel’s Taxes
It’s much easier to raise taxes if you don’t pay them.

Ever notice that those who endorse high taxes and those who actually pay them aren’t the same people? Consider the curious case of Ways and Means Chairman Charlie Rangel, who is leading the charge for a new 5.4-percentage point income tax surcharge and recently called it “the moral thing to do.” About his own tax liability he seems less, well, fervent.

Exhibit A concerns a rental property Mr. Rangel purchased in 1987 at the Punta Cana Yacht Club in the Dominican Republic. The rental income from that property ought to be substantial since it is a luxury beach-front villa and is more often than not rented out. But when the National Legal and Policy Center looked at Mr. Rangel’s House financial disclosure forms in August, it noted that his reported income looked suspiciously low. In 2004 and 2005, he reported no more than $5,000, and in 2006 and 2007 no income at all from the property.

The Congressman initially denied there was any unreported income. But reporters quickly showed that the villa is among the most desirable at Punta Cana and that it rents for $500 a night in the low season, and as much as $1,100 a night in peak season. Last year it was fully booked between December 15 and April 15.

Mr. Rangel soon admitted having failed to report rental income of $75,000 over the years. First he blamed his wife for the oversight because he said she was supposed to be managing the property. Then he blamed the language barrier. “Every time I thought I was getting somewhere, they’d start speaking Spanish,” Mr. Rangel explained.

Mr. Rangel promised last fall to amend his tax returns, pay what is due and correct the information on his annual financial disclosure form. But the deadline for the 2008 filing was May 15 and as of last week he still had not filed. His press spokesman declined to answer questions about anything related to his ethics problems.

Besides not paying those pesky taxes, Mr. Rangel had other reasons for wanting to hide income. As the tenant of four rent-stabilized apartments in Harlem, the Congressman needed to keep his annual reported income below $175,000, lest he be ineligible as a hardship case for rent control. (He also used one of the apartments as an office in violation of rent-control rules, but that’s another story.)

Mr. Rangel said last fall that “I never had any idea that I got any income’’ from the villa. Try using that one the next time the IRS comes after you. Equally interesting is his claim that he didn’t know that the developer of the Dominican Republic villa had converted his $52,000 mortgage to an interest-free loan in 1990. That would seem to violate House rules on gifts, which say Members may only accept loans on “terms that are generally available to the public.” Try getting an interest-free loan from your banker.

The National Legal and Policy Center also says it has confirmed that Mr. Rangel owned a home in Washington from 1971-2000 and during that time claimed a “homestead” exemption that allowed him to save on his District of Columbia property taxes. However, the homestead exemption only applies to a principal residence, and the Washington home could not have qualified as such since Mr. Rangel’s rent-stabilized apartments in New York have the same requirement.

The House Ethics Committee is investigating Mr. Rangel on no fewer than six separate issues, including his failure to report the no-interest loan on his Punta Cana villa and his use of rent-stabilized apartments. It is also investigating his fund raising for the Charles B. Rangel Center for Public Service at City College of New York. New York labor attorney Theodore Kheel, one of the principal owners of the Punta Cana resort, is an important donor to the Rangel Center.

All of this has previously appeared in print in one place or another, and we salute the reporters who did the leg work. We thought we’d summarize it now for readers who are confronted with the prospect of much higher tax bills, and who might like to know how a leading Democrat defines “moral” behavior when the taxes hit close to his homes.

Charlie Rangel is a man who has been patently dishonest for his entire public life.  Not that it matters to Democrats.  If you’re a Democrat, you can be caught red-handed with $90,000 of FBI bribe money in your freezer like William Jefferson and actually get re-elected the following year.

That leaves Chris Dodd and Kent Conrad (at least, for me today).

AP IMPACT: Dodd, Conrad told deals were sweetened

By LARRY MARGASAK, Associated Press Writer Larry Margasak, Associated Press Writer – Mon Jul 27, 9:52 pm ET

WASHINGTON – Despite their denials, influential Democratic Sens. Kent Conrad and Chris Dodd were told from the start they were getting VIP mortgage discounts from one of the nation’s largest lenders, the official who handled their loans has told Congress in secret testimony.

Both senators have said that at the time the mortgages were being written they didn’t know they were getting unique deals from Countrywide Financial Corp., the company that went on to lose billions of dollars on home loans to credit-strapped borrowers. Dodd still maintains he got no preferential treatment.

Dodd got two Countrywide mortgages in 2003, refinancing his home in Connecticut and another residence in Washington. Conrad’s two Countrywide mortgages in 2004 were for a beach house in Delaware and an eight-unit apartment building in Bismarck in his home state of North Dakota.

Robert Feinberg, who worked in Countrywide’s VIP section, told congressional investigators last month that the two senators were made aware that “who you know is basically how you’re coming in here.”

“You don’t say ‘no’ to the VIP,” Feinberg told Republican investigators for the House Oversight and Government Reform Committee, according to a transcript obtained by The Associated Press.

The next day, Feinberg testified before the Senate Ethics Committee, an indication the panel is actively investigating two of the chamber’s more powerful members:

Dodd heads the Banking Committee and is a major player in two big areas: solving the housing foreclosure and financial crises and putting together an overhaul of the U.S. health care system. A five-term senator, he is in a tough fight for re-election in 2010, partly because of the controversy over his mortgages.

Conrad chairs the Budget Committee. He, too, shares an important role in the health care debate, as well as on legislation to curb global warming.

Both senators were VIP borrowers in the program known as “friends of Angelo.” Angelo Mozilo was chief executive of Countrywide, which played a big part in the foreclosure crisis triggered by defaults on subprime loans. The Calabasas, Calif.-based company was bought last July by Bank of America Corp. for about $2.5 billion.

Mozilo has been charged with civil fraud and illegal insider trading by the Securities and Exchange Commission. He denies any wrongdoing.

Asked by a House Oversight investigator if Conrad, the North Dakota senator, “was aware that he was getting preferential treatment?” Feinberg answered: “Yes, he was aware.”

Referring to Dodd, the investigator asked:

“And do you know if during the course of your communications” with the senator or his wife “that you ever had an opportunity to share with them if they were getting special VIP treatment?”

“Yes, yes,” Feinberg replied. [...]

Countrywide VIPs, Feinberg told the committees, received discounts on rates, fees and points. Dodd received a break when Countrywide counted both his Connecticut and Washington homes as primary owner-occupied residences — a fiction, according to Feinberg. Conrad received a type of commercial loan that he was told Countrywide didn’t offer.

“The simple fact that Angelo Mozilo and other high-ranking executives at Countrywide were personally making sure Mr. Feinberg handled their loans right, is proof in itself that the senators knew they were getting sweetheart deals,” said Feinberg’s principal attorney, Anthony Salerno.

Two internal Countrywide documents in Dodd’s case and one in Conrad’s appear to contradict their statements about what they knew about their VIP loans.

At his Feb. 2 news conference, Dodd said he knew he was in a VIP program but insisted he was told by Countrywide, “It was nothing more than enhanced customer service … being able to get a person on the phone instead of an automated operator.”

He insisted he didn’t receive special treatment. However, the assertion was at odds with two Countrywide documents entitled “Loan Policy Analysis” that Dodd allowed reporters to review the same day.

The documents had separate columns: one showing points “actl chrgd” Dodd — zero; and a second column showing “policy” was to charge .250 points on one loan and .375 points on the other. Another heading on the documents said “reasons for override.” A notation under that heading identified a Countrywide section that approved the policy change for Dodd.

Mortgage points, sometimes called loan origination fees, are upfront fees based on a percentage of the loan. Each point is equal to 1 percent of the loan. The higher the points the lower the interest rate.

Dodd said he obtained the Countrywide documents in 2008, to learn details of his mortgages.

In Conrad’s case, an e-mail from Feinberg to Mozilo indicates Feinberg informed Conrad that Countrywide had a residential loan limit of a four-unit building. Conrad sought to finance an eight-unit apartment building in Bismarck that he had bought from his brothers.

“I did advise him I would check with you first since our maximum is 4 units,” Feinberg said in an April 23, 2004, internal e-mail to Mozilo.

Mozilo responded the same day that Feinberg should speak to another Countrywide executive and “see if he can make an exception due to the fact that the borrower is a senator.”

Feinberg said in his deposition with House Oversight investigators last month that exceptions for the type of loan Conrad received were not allowed for borrowers outside the VIP system.

“If there was a regular customer calling, and of course you say, ‘No, we’re a residential lender. We cannot provide you with that service,'” Feinberg said.

Feinberg also told House investigators that Countrywide counted both of Dodd’s homes as primary residences.

“He was allowed to do both of those as owner-occupied, which is not allowed. You can only have one owner-occupied property. You can’t live in two properties at the same time,” he said.

Normally, Feinberg said, a second home could require more equity and could have a higher mortgage rate.

Rep. Darrell Issa of California, the senior Republican on the House Oversight Committee, had his investigators question Feinberg as part of a broader investigation into Countrywide’s VIP program.

Other names that have surfaced as “friends” of Mozilo include James Johnson, a former head of Fannie Mae who later stepped down as an adviser to Barack Obama’s presidential campaign, and Franklin Raines, who also headed Fannie Mae. Still other “friends” included retired athletes, a judge, a congressional aide and a newspaper executive.

Conrad initially said in June 2008, “If they did me a favor, they did it without my knowledge and without my requesting it.”

The next day, Conrad changed course after reviewing documents showing he got special treatment, and said he was donating $10,500 to charity and refinancing the loan on the apartment building with another lender. He also said then it appeared Countrywide had waived 1 point at closing on the beach house.

Gaddie said Feinberg has previously made statements to the news media that Countrywide waived 1 point without the senator’s knowledge.

Feinberg testified that VIPs usually were not told exactly how many points were being waived, but it was made clear to them that they were getting discounts.

And, of course, Barack Obama has his own sweetheart mortgage deal with his own scumbag, Tony Rezko.  Not to mention all kinds of other skeletons in his “Chicago Way” closet that were never investigated by a clearly biased press.  A lot of the most obvious corruption occurs through his wife Michelle Obama, who kept getting paid more and more on hospital boards as Obama advanced politically.  On hospitals that did some really nasty things, such as patient dumping which she might have participated in.

Democrats cry day after day that what the world needs is more government.

But consider something: “Power tends to corrupt, and absolute power corrupts absolutely.”

No entity wields more absolute power, or is more corrupt, than government.

Democrats tell us every day that they are out to save us from evil big businesses.  But there is no one to save us from Democrats, or the intrusive giant octopus federal government behemoth they are seeking to create and empower to rule over virtually every aspect of our lives.


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