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Dodd and Countrywide
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Did Senator Dodd receive favors from Angelo Mozilo of Countrywide in refinancing 2 mortgage properties in exchange for support in Congress to push Fannie and Freddie into buying up shoddy mortgages generated by Countrywide, that later helped cause Fannie and Freddie's collapse and shook confidence in credit markets? Loan officer Feinberg says so, as he tells the WSJ that he is doing this because he thinks Dodd's display of concern in the collapse of Fannie and Freddie is hypocritical. Dodd was one big recipient of campaign donations from Mozilo's Countrywide. Without Fannie and Freddie's willingness to buy up all these mortgages as soon as they were produced the mortgage machine that Countrywide became would not have ocurred to the extent and out of control manner that it did, leaving a huge mess behind.
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