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Frank Speaks Out About The Countrywide VIP Scandal

House Financial Services Chairman Barney Frank (D-Mass.) stuck up for his beleaguered Senate counterpart Chris Dodd (D-Conn.), who's come under scrutiny for his sweetheart deal from subprime mortgage lender Countrywide Financial.

"Throughout my dealings with Senator Dodd I have found him to be motivated entirely by his view of appropriate public policy, tempered only by his not insignificant need to deal with the question of how to get things done in the Senate. At no point in any of our joint efforts has Senator Dodd shown even the slightest indication that he was in any way influenced by considerations other than what was best for the economy and the American people," Frank said in a statement.

He did say he agrees that "it is appropriate for the Ethics Committee to take this step."

Full statement after the jump.

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