Release The Documents • Connecticut deserves straight talk about your loans
U.S. Sen. Christopher J. Dodd says he's got nothing to hide. Yet for months he's issued confusing and conflicting statements on whether he'll publicly release documents relating to two loans he and his wife received from failed mortgage giant Countrywide Financial Corp.
He still hasn't released them. On Jan. 23, Mr. Dodd was asked if he intends to await the conclusion of a Senate ethics inquiry before making the documents public. "Not necessarily," he told a reporter for The Courant. "At some point soon we'll do it."
Mr. Dodd should have released the documents months ago. Countrywide was a major player in the subprime mortgage debacle. Five years ago, it issued the loans to Mr. Dodd, then a member of the Senate banking committee, as part of the company's VIP program, trimming the upfront costs for refinancing two of the senator's homes and allowing the rates to "float down" as interest rates dropped.
Countrywide collapsed last year and was acquired by Bank of America. Its failure sent shock waves through the economy and raised the question of why Congress didn't act sooner to curb subprime lending by Countrywide and others.
That question becomes even more pointed when directed at Mr. Dodd — now chairman of the Senate's banking committee — in light of his preferential treatment from Countrywide.
His continued waffling about whether or when he'll release the documents only fans speculation. That's a disservice to Mr. Dodd's constituents, who deserve straight talk and accountability from the state's senior senator.
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