Posted on 09/25/2008 7:44:11 PM PDT by tobyhill
The Wall Street Journal reports that a federal grand jury in Los Angeles is investigating the so-called "Friends of Angelo" loan program at Countrywide Financial, under which influential borrowers received preferential terms on home loans.
The reported borrowers under the program have included U.S. Sen. Chris Dodd (D-Conn.), former Fannie Mae Chief Executive Franklin Raines, and California state appeals court judge Richard Aldrich.
Today's Journal:
Countrywide loans on preferential terms to influential figures are the subject of a federal grand jury investigation in Los Angeles, according to people involved in the inquiry. Prosecutors subpoenaed records of many of the so-called "Friends of Angelo" loans in August, lawyers and others familiar with the matter said.
(Excerpt) Read more at latimesblogs.latimes.com ...
Dodd Doo-Doo ping
1967 Thomas J. Dodd Democratic Connecticut Use of his office to convert campaign funds to his personal benefit. Conduct unbecoming a senator.
The apple didn’t fall far from the tree, did it?
Dodd’s not going to like this one ...
I want to know how much the banking industry has “donated” to Dodd.
What is striking is how little money it takes to buy these people. In Thurd World Countries the anti is much higher. Maybe we are missing something? Were there other payments to a Swiss bank? Did they not really make payments on the loans? Etc Etc. They should be happy that I am not on one of those Grand Juries..I would have a lot of questions.
That woman must s..t peaches and cream, followed by bluebirds to carry it all away.
There are a whole raft of Democrats who got the “FoM” sweetheart loans. Nail them to the floor and make them cough up the cash as well as a hefty fine.
No one is above the law...unless you are William Jefferson (D-LA) or Charlie Rangel (D-NY).
Well, he’s #1 on the Freddie/Fannie list (Obama’s #2).
Actually, I think Obama’s #1. He’s only been gtting the money for a couple of years. Dodd’s gotten his over a longer period.
This article names names.
http://www.portfolio.com/news-markets/top-5/2008/06/12/Countrywide-Loan-Scandal
I heard about Countrywide getting put under the microscope. Will some of their CEOs end up in jail like Ken Lay of Enron?
See post #21 for ping - oops (It’s been a long day.)
In some cases, Mozilo was personally involved in approving VIP loans. In the case of Judge Aldrich, a loan officer at Countrywide, Robert Feinberg, told Portfolio he alerted Mozilo that the credit line being sought was “above what guidelines allow.” Mozilo responded, according to an e-mail obtained by Portfolio, “Go ahead and approve the loan, and close it as soon as possible.”
Gosh, it’s like a theme runs through all these stories. Is Barney Frank in this one too?
Don’t get too excited....”L.A. Grand Jury?
Hand picked by Pelosi, no doubt.
This is to bury the issue right where it lies.
book ‘em, dano
It’s the equivalent of a beautiful woman turning tricks for a dollar. Congressmen sell our country out sooooooo cheap.
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