Chris Dodd (D): Real Estate Scandals at Home and Abroad

Which convicted inside trader helped little Chrissy Dodd buy his vacation home?

Like his fearless leader, Barack Obama, Chris Dodd had a little help from his friends when it came to buying an expensive ten acre island property on Inishnee in Ireland. From the Times Online:

A holiday home in Connemara is at the centre of a growing row in America involving a prominent Democrat politician, a convicted insider trader and the former president Bill Clinton.
The purchase of the home by Senator Christopher Dodd is being examined by the US Senate ethics committee after allegations that Edward Downe Jr, a businessman convicted of insider trading, acted as a “middle man” in the deal

Here's the deal: Dodd buys a one third "share" in the house Downe buys two thirds of it. Eight years later, after property values have doubled*, Downe sells his "share" to Dodd for an amount less than 20% more than he paid for it. Dodd gets a sweetheart deal from Downe, after (coincidentally I'm sure) an effort by Dodd obtain a pardon from President Bill Clinton for...wait for it!...Edward Downe Jr, a businessman convicted of insider trading!

Like the half million dollar property that Tony Rezko and spouse that was a virtual gift to Barack and Michelle Obama, Edward Downe Jr sold about a quarter million dollars worth of real estate to Chris Dodd for half of what it was worth because.....?

The deal between Kessinger and Dodd has attracted attention in America because of its similarity to another property transaction involving the pair that has also come under scrutiny. In 1986, they purchased a condominium in Washington for $159,800. A little over three years later, Downe transferred his share of the property to Dodd, who later sold it for $310,000.
Dodd is already under investigation for receiving what a former mortgage broker claims was preferential treatment from Countrywide Financial, one of the largest sub-prime lenders in the US, on two re-mortgage deals in 2003. Dodd denies that he received “special treatment”.
Last week The Wall Street Journal questioned why Kessinger handed over his share of the Connemara property “for a song” and called on Dodd to reveal what role Downe might have played as a “middle man”.

Last week? And the MSM covered this...when??

Ah, Democrats and real estate! Pure as the driven snow on the streets of Chicago!

*WSJ said "quadrupled".

Hat tip Instapundit
Cross Posted at Say Anything