Skip to comments.Panel sends Countrywide Subpoena
Posted on 10/24/2009 7:23:56 AM PDT by Dubya-M-DeesWent2SyriaStupid!
Republicans and Democrats on the House Oversight and Government Reform Committee agreed Friday night on language for a wide-reaching subpoena of Countrywide Financials VIP lending program as part of an investigation into allegations of influence peddling by the company at all levels of government, committee aides said.
The subpoena, which was sent out Friday night, will ask the lender to fork over documents relating to its Friends of Angelo program named for CEO Angelo Mozilo, who allegedly offered favorable mortgage rates to persons of influence.
(Excerpt) Read more at politico.com ...
After all the stonewalling they must know the Countrywide files have been purged so they are safe to let this go now.
Can’t wait to see what slithers out from under THAT rock!
Whoops. I believe that might put Chris Dodd in the headlights.
I am by no means a fan of businesses that suck up financially to government officials.
However, I do find it odd that the transaction is invariably described as one of bribery, with the business portrayed as taking the initiative.
I would contend that it’s more often a protection racket perpetrated by the official. More extortion than bribery.
Here is a copy of the subpoena
A Friday night, end of the news week release (how Clintonesque).
This might have legs.
They probably shredded all docs and deleted all e-mails. unless the FBI / DOJ (Eric Holder doing anything YEAH RIGHT! gets involved; I highly doubt justice will be served.But it looks good for Dodd to say I am clean.
The problem here is one of ethics, or lack of it, in the case of Dodd. The Countrywide VIP Program was legal. They probably did over 100,000 of these loans. Almost all of the borrowers had superior credit, and a high income. The shady part was a politician acceting a loan on favorable terms JUST BECAUSE HE COULD!
It’s something, a start, on paper, a record.
Guess we should start writing to the news media to ask them about it? (they’re a business, they should report what people are interested in?) Couldn’t hurt.
accepting a loan on favorable terms, that is.
Dodd is dirty on this one.
Posted on 06/14/2008 7:27:37 AM PDT by doug from upland
Friends of AngeloThat's it, piss off the mob. /sarc
Little late, dontcha think??
Friends of Angelo is the tip of the iceberg. Nail the timeline between Countrywide’s underwriting denials and the revision of FannieMae’s underwriting guidelines to provide approvals to those files. THAT’s where the real collusion and criminality lies.
Hummm. I thought the chairman of this committee was a VIP?
The article said the subpoena wouldn’t cover the senate. I believe a whole bunch of snakes will not be slithering out from under any rocks.
I doubt there is any evidence that “the Countrywide files have been purged.” Why would Bank of America purge the files? Bank of America did not own Countrywide when these loans were made, the loans were not illegal (maybe unethical, but not illegal), and Bank of America’s employees would have more to lose from discovery of a purging than from discovery of more evidence that Chris Dodd was unethical.
They sure gave Countrywide enough time to shred any files pertaining to Dodd, didn’t they?
something really smells here, but like Charlie Rangle I hold little hope for accountability
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