This is one reason that America is “going to crap” (as they say in my neck of the woods):

Had Senator Dodd been a private citizen, his loans would have entailed charges of .250 and .375 “points”—up-front payments equal to a percentage of the mortgage. Senator Dodd was charged: zero. That saved him about $3,000, but the big money came from reduced interest rates. Senator Dodd’s mortgage rates were knocked down from 4.875 percent to 4.5 percent and 4.25 percent, saving him $75,000. Senators play by their own rules.

Despite the man’s admitted guilt, it’s highly unlikely that Senator Dodd’s constituents will boot him out of office. Why? Because the man is powerful. He brings home the bacon. He’s the incumbent, and the American people are too damn preoccupied with getting fat to pay attention at the voting booth (if they vote at all).

The 17th amendment must be repealed. State legislatures need the power to recall corrupt Senators like Dodd and Conrad. In the mean time…

Senator Dodd will be reforming our banks. Senator Conrad will be minding the budget. Perhaps Senator Dodd can get American taxpayers a sweetheart “Friends of Hu” deal as Senator Conrad helps spend the nation into bankruptcy. As the Senate Ethics Committee ponders these imponderables, we can only wonder if congressional Democrats have lost the ability to blush.

Have a great American day. You earned it. Right?

UPDATE:

Democrat resists subpoenaing VIP mortgage records

House Democrats have declined to subpoena available records that might reveal whether other members of Congress got discounted VIP mortgages from subprime lender Countrywide Financial Corp. similar to the sweetheart deals given Democratic Sens. Chris Dodd and Kent Conrad.

…

"It's well over a year that this (the Countrywide VIP program) has been known to be going on. We know only a fraction of the names who sought or accepted preferential treatment," he said. "You can't do government oversight if you protect your friends."

No kidding. It’s time for the Justice Department to get involved in this matter. Oh, wait they are were investigating:

It is unclear whether the Justice Department is still investigating Dodd, Conrad or the Countrywide VIP program.

Elana Goldstein, one of Feinberg's lawyers, said Justice Department prosecutors interviewed Feinberg last October but have not contacted her or her client since then.

Looks to me like Barry O might be trying to squash the investigation. After all, he has some experience with unfair scrutiny of personal mortgage deals.

Prediction: No prosecutions in this matter at all. Dodd & company are all reelected. The people of Connecticut go about their lives, oblivious to the mess they helped create in Washington. America continues to slip into the abyss. Yada. Yada. Yada.