Reid Asked to Delay Housing Bill

Nine Senate Republicans on Wednesday asked Senate Majority Leader Harry Reid (D-Nev.) to delay consideration of a sweeping housing rescue package because of the Countrywide Financial controversy, The Hill’s Jessica Holzer reports.

The letter cites concern that some of those who helped write the housing bill, including Senate Banking Committee Chairman Chris Dodd (D-Conn.), received preferential mortgages from Countrywide Financial.

Trying to explain that he was not aware he was receiving a VIP mortgage, Dodd explained Tuesday “I don’t even know what the rates are today.” Since that time Dodd has come under fire from conservatives for making the statement despite chairing the committee arguably most concerned with interest rates.