Kent Conrad
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OK, after some deep reading, here is what took place from my understanding
Conrad called his pal, he gave the phone to CW's founder and CEO, ( who just happened to be with him;))he told him to call one of his loan officers. The loan officer was instructed to waive the 1 point discount fee for him. So he got the loan at the lower rate and did not have to pay the $10,700. But was also allowed a loan on another piece of property that didn't meet policies of CW's loan approvals -
XJHEAD;223338 wrote:
OK, after some deep reading, here is what took place from my understanding
Conrad called his pal, he gave the phone to CW's founder and CEO, ( who just happened to be with him;))he told him to call one of his loan officers. The loan officer was instructed to waive the 1 point discount fee for him. So he got the loan at the lower rate and did not have to pay the $10,700. But was also allowed a loan on another piece of property that didn't meet policies of CW's loan approvalsThis I can agree with as this is pretty much what I had heard too. The 2nd piece of property was an 8 plex that his brothers and he own in Bismarck. They made an exception in lending him the money to re-fi that loan as well. Normally they only allow 4 unit buildings to be financed through them. They did make the exception because he was a Senator according to news reports. I don't know the inner workings of CW, but I can imagine they are similar to other banks in that loan officers have the ability to waive rules like that w/ approval from higher ups (my wife works at a bank and says this is a daily occurance there as well). Yes, he probably (most likely) received preferential treatment because he is a senator, but I'm also willing to bet that if he went to any bank in ND or elsewhere they would make an exception for him as well if he didn't fit the mold of the normal loans.
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MisterCMK;223317 wrote:
Your usage of the word "to" is incorrect. You should have used "too" as you are talking about something being in excess.El oh el. Who are you to decide how much is too much money for a person to make? Jealous?
You are correct sir. My failure leaves me in shame.
I'm not jealous insomuch as Conrad's, and any Congressperson's, salary is paid by my, yours, and anyone's, taxes. These people are supposed to be elected as public servants -- listening to their constituants and voting for them accordingly. They are not royalty. It makes you wonder how someone like John McCain has multiple houses or a senator from North Dakota has a $1,400,000 dollar beachfront house. There was some sort of scandal involving Barack Obama and his huge house in Chicago. This happens too frequently to be coincidential.
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reshalghoul;223346 wrote:
It makes you wonder how someone like John McCain has multiple houses or a senator from North Dakota has a $1,400,000 dollar beachfront house.Conrad's wife is a lobbyist for Major League Baseball. She makes a LOT of money.
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reshalghoul;223346 wrote:
It makes you wonder how someone like John McCain has multiple housesJohn McCains Father-In-Law started one of the largest distributors of Anheuser-Busch in the country, his wife has plenty of money(estimated at $100 million+).
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Ahh, these are things I did not know. Thanks inspector and jamz.
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