Say Anything Blog

As a citizen of the state of North Dakota I feel that Kent Conrad should resign his seat in the US Senate over his involvement in the Countrywide Mortgage scandal.

Here’s why:

1. Conrad accepted a “VIP” or “Friends of Angelo” loan from Countrywide Mortgage.  Conrad claims that he wasn’t aware of receiving any special considerations on the loan, but we do know that after calling Countrywide CEO Angelo Mozilo directly and asking for a loan Conrad got a lower rate, had fees waived and received a mortgage on a property Countrywide normally wouldn’t lend on.  These things saved Conrad approximately $10,000.
2. After accepting this special treatment from Mozilo and Countrywide, Conrad acted in his role as chairman of the Senate Budget Committee to push through legislation allowing a government bailout of mortgage lenders.  Countrywide Mortgage is the biggest mortgage lender in the United States and certainly stood to benefit from this bailout.
3. Kent Conrad has lied about his relationship with Angelo Mozilo.  In a press release put out by Conrad’s office shortly after the scandal broke Conrad said he had “never met” Angelo Mozilo.  It has since come to light that Conrad called Mozilo directly to arrange his loan.
4. Kent Conrad has been less than forthcoming about the ownership of the beach home in Delaware.  In a “narrative” given to the Associated Press Conrad mentions that his vacation home is owned by his wife, Major League Baseball lobbyist Lucy Calautti.  According to the county where the vacation home resides, however, both Conrad and his wife are the owners.

Due to the above evidence of deception and quid pro quo I think it’s clear that Kent Conrad - who has been dishonest, deceitful and corrupt throughout this matter - is no longer qualified to represent North Dakota in the US Senate.