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Dodd's Peek-A-Boo Disclosure
...Countrywide was for years the biggest single customer of Fannie Mae, the giant government-sponsored mortgage securitizer that has since gone into federal conservatorship. Much of Countrywide's business was built around its ability to sell loans to Fannie, and Mr. Mozilo helped push Fannie to accept dodgier and dodgier paper. Mr. Dodd in turn supported this goal by pressing Fannie to do more for "affordable" housing.

This nexus between Mr. Dodd's public duties and Countrywide's interests is a serious matter involving the Senator's personal ethics and accountability to taxpayers who will be paying for Fannie's bad loans for years to come....