VIP BAD VIBES
 

Being a United States senator makes you a very important person (VIP), and Sen. Christopher Dodd (D-CT) finds himself trying to explain his way out of a bad situation because it appears that he improperly received VIP treatment when refinancing the mortgages on his East Haddam and Washington, D.C. homes.

Countrywide Financial Corporation, Dodd's mortgage provider, apparently included the Senator in a program that granted lower mortgage rates and fees to certain VIP's. Dodd told reporters last week he did not ask for or seek any special treatment, and that he and his wife worked with a regular loan officer at Countrywide, and had no contact with the company's CEO Angelo Mozilo.

Dodd acknowledged he knew he was in a VIP program, but figured that was just a "courtesy" for being a loyal Countrywide customer, instead of a first-timer.

A Senate ethics committee is looking into the Countrywide VIP deal to check for impropriety. Dodd said he welcomes the probe, but the negative publicity comes at a vulnerable time for the veteran senator.

Back in March, the Quinnipiac University poll revealed that Dodd's job approval rating among Connecticut voters had slipped to 51%, apparently because many people were displeased that Dodd spent a lot of time campaigning unsuccessfully for the Democratic presidential nomination. "Sen. Dodd's approval declined steadily as he ran for President," explained Quinnipiac University poll director Doug Schwartz. He added: "We will keep an eye on Dodd. He is up for reelection in 2010 and no incumbent wants to start a reelection campaign with numbers that low."

Dodd increased his visits to Connecticut and trumpeted his renewed efforts in the Senate after his presidential bid ended, logical steps to rebuild his image. The mortgage mess throws a monkey wrench into that operation.
To make matters worse, Dodd was being mentioned as a possible vice presidential running mate for presumptive Democratic presidential nominee Barack Obama, or as a possible cabinet officer if Obama wins. Dodd's white hair, Senate tenure, and knowledge of foreign affairs could provide the "experience" factor some say the youthful Obama needs on the ticket. Also, Dodd speaks fluent Spanish, an asset that could help Obama with Hispanic voters.

That was then, this is now. Vetting a vice presidential candidate is always a highly sensitive process. Contenders with black marks on their record, or negative publicity at present usually get "x-ed out" pretty quickly. That is just a hard reality of politics.

Even if he never harbored vice presidential or cabinet aspirations, Dodd has a more personal reason to wish for a speedy conclusion to the Countrywide problem. Dodd's father, the late Connecticut Sen. Thomas Dodd saw his Senate career end in embarrassment after being officially censured for ethics violations.

Many in Connecticut politics believe Chris Dodd became involved in politics, in part to honor his father and the family name. Even the possibility that he himself might face ethics sanctions must truly trouble Dodd.
The Senator maintains he did nothing wrong, and said he is savvy enough to avoid naively being drawn into a special treatment deal. "I was born at night, but not last night," Dodd gamely told reporters. At the same time he said he had been "blindsided" by the allegations of impropriety.

Polling data and a drumbeat of negative editorial comment in the media make it imperative that Dodd do more to clear himself and put a firm hand on the rudder of his political career before he steers it onto the rocks.
No one is predicting the current controversy will cause Dodd's defeat in 2010, but he cannot dismiss the image damage. Most voters look past the smaller "perks" enjoyed by VIP's such as U.S. senators, but funny business on a mortgage is something else again.

Most homeowners sweat out the mortgage application process hoping their credit rating is strong enough to gain approval. Those individuals facing possible foreclosure because of the predatory practices of mortgage providers in the subprime crisis have raw nerve endings. All of these folks will have little sympathy for a politician who is perceived to have glided into a favorable mortgage deal simply because he is a VIP.
 

Posted 6/23/08

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