Countrywide Confirmation? Loan Deals Were Made To Influence Congress

By On July 5, 2012 · 3 Comments

I know we’ve moved on to the latest political scandals, but a report leaked by the House Oversight and Government Reform Commitee confirms at least one thing from the sad final chapter of former U.S. Sen. Chris Dodd:

The former Countrywide Financial Corp., whose subprime loans helped start the nation’s foreclosure crisis, made hundreds of discount loans to buy influence with members of Congress, congressional staff, top government officials and executives of troubled mortgage giant Fannie Mae

Now let’s not forget that this panel is the home of Obama-hunter Darrell Isssa, the ethically-challenged chair of the House Committee on Oversight and Government Reform. But the report is another reminder that the Countrywide Financial scandal, which led to Sen. Chris Dodd choosing not to run for re-election, was hardly a matter of sloppy paperwork. The report states:

Countrywide used the VIP loan program to cast a wide net of influence … Countrywide’s effort to build goodwill on Capitol Hill worked.

 
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3 Responses to Countrywide Confirmation? Loan Deals Were Made To Influence Congress

  1. Richard says:
    July 5, 2012 at 12:20 pm

    I find it hard to believe politicians can be bought and sold like used cars. Is there any proof of this?

    Bwaah Haah Haaaha

  2. Greg says:
    July 5, 2012 at 2:23 pm

    Yet the Courant editorial board celebrated Dodd’s retirement as the end of his long and great service to the state and the country, bla bla bla despite being head of the Senate Banking Committee while gladhanding with Mozillo and presiding over the financial crisis. Then when he got his MILLION dollar job shilling for the movie industry there wasn’t a peep about the revolving door between congress and industry lobbyists.

    But Rowland is the devil…go figure.

    • Richard says:
      July 5, 2012 at 3:26 pm

      Rowland is symbol of Democratic futility much like Bush. Bush and Rowland stood in the way of all the great and outlandish things that Progressives thought they would accomplish when in office.

      Now they have a $1.6 Trillion Deficit, the worst possible path to Health Reform imaginable; stagnant wages and job growth; and a weird kind of war monger in the White House with his “Drone Wars” successor to Reagan’s “Star Wars”.

      So what are they celebrating? Free Condoms and EZ-Script Medical Pot as part of ObamaCare? Gay Marriage? The advancement of abortion? The revolving door between congress and industry ‘non-profit’ lobbyists is now painted Blue while Green Profiteers run amok? Union pension excess since it is often related to their own pension spiking and thievery? Turning down $300 million in Education Reform money from 2010 (Rell) through 2012 because it would inconvienence the union cronies in the AFT or NEA?

      They look insanely happy to me. They’ve accomplished all we thought they would in one term.