Gee, maybe Dr. Do Over can buy a house for the shoes Chris Dudley was accused of leaving behind in his Portland (see previous post here).
Here’s the story from Willamette Week. Read this part, it’s a doozy.

In 1999, then-Gov. John Kitzhaber entered into an unusual transaction to finance the purchase of a $306,000 Southwest Portland home.

The loan Kitzhaber and his then-wife, Sharon, secured was uncommon for several reasons: First, the lender was not a conventional mortgage lender. Instead, it was Bidwell & Co., a Portland stock brokerage.

“That’s very unusual,” says David Nelson, a Portland real estate lawyer. “If a brokerage firm makes loans, it’s usually through a subsidiary licensed to do so.”

State records show that Bidwell was not a licensed mortgage lender.

Brokerage firms do loan money against client holdings, but records show the Kitzhabers secured their loan with property, not securities.

The second curious aspect of the loan was that the Kitzhabers borrowed 100 percent of the purchase price. Conventional lenders typically require a down payment. Thomas Hendrickson, past president of the Oregon Mortgage Bankers Association, says few lenders made 100 percent loans in 1999.

Third, while conventional lenders prefer 15-to-30-year mortgages, the Kitzhabers borrowed their money for five years.

In other words, Kitzhaber obtained a loan the average Oregonian could not get—which is the kind of favorable treatment that has tripped up other pols, like U.S. Sen. Chris Dodd (D-Conn.).

The deed does not specify what interest rate, if any, Kitzhaber paid.

In January 2002, three years after the loan was made, Kitzhaber appointed Bidwell & Co. founder Jerry Bidwell to the Oregon Investment Council.