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Countrywide inquiry broadens (the net widens including mid-level Hill staffers and bureaucrats)
Politico.com ^ | 10/26/09 | Jake Sherman

Posted on 10/26/2009 4:57:51 PM PDT by NormsRevenge

A wide ranging congressional investigation into Countrywide Financial will dig into how the mortgage giant went about picking government officials to offer its VIP program, according to aides involved with the inquiry.

Thanks to an agreement between Republicans and Democrats reached late Friday night, any name of a member of Congress involved in the VIP program will head straight to the ethics committee, while redacted copies of those documents will be given to the House Oversight and Government Reform.

But the committee has cast a much wider net, looking into whether lobbyists or others in Washington helped identify mid-level Hill staffers and bureaucrats who may have been important to influence, according to Democratic and Republican aides involved with the inquiry. This could also ensnare congressional staffers who took advantage of any VIP programs.

“Our investigation into Countrywide’s VIP program isn’t about who got what sweetheart deal,” GOP committee spokesman Kurt Bardella said. “It’s about exposing the full scope of Countrywide’s calculated and deliberate effort to manipulate mortgage and lending policies that set the stage for the financial crisis while the government looked the other way.”

The focus of the investigation will center on the paths to power – namely how Countrywide Financial decided who to enroll in its VIP program, coined “Friends of Angelo,” named after former CEO Angelo Mozilo.

In turning its lens toward whether K Street identified staff members on Capitol Hill, committee aides say they believe they will be able to find the root of any potential corruption. One committee aide said showing staff members’ involvement in the VIP program would have “a greater impact” than implicating legislators themselves.

(Excerpt) Read more at politico.com ...


TOPICS: Crime/Corruption; Front Page News; Government; Politics/Elections
KEYWORDS: 111th; countrywide; dodd; friendsofangelo; issa; kstreet; oversight
and K Street.
1 posted on 10/26/2009 4:57:52 PM PDT by NormsRevenge
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To: NormsRevenge

Mr. Dodd...please pick up the white courtesy phone.


2 posted on 10/26/2009 4:59:21 PM PDT by MissouriConservative (Garde la Foi, mes amis! Nous nous sommes les sauveurs de la République! Maintenant et Toujours!)
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To: NormsRevenge
Prediction:

Eric Holder issues pre-meditated dismissals, mistrials, and pardons for all Democrats involved.


3 posted on 10/26/2009 5:06:28 PM PDT by The Comedian (Evil can only succeed if good men don't point at it and laugh.)
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To: MissouriConservative; neverdem; All
"Mr. Dodd...please pick up the white courtesy phone."


4 posted on 10/26/2009 5:08:13 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: NormsRevenge

Perhaps they’ll ax Nazi Pelosi about her son’s $Million Countrywide job??

Pray for America’s Freedom


5 posted on 10/26/2009 5:20:11 PM PDT by bray (Hope and Corruption)
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To: NormsRevenge

Why don’t they also start an investigation into Northern Trust in Illinois? Obama got his 30-year $1.32 million loan from them at a 5.62% rate well below the going rate of 6% at the time and paid absolutely no discount points or origination fees. In comparison to what other people would have been charged at the time, he is saving over $300 monthly on his mortgage payments, not to mention the deal he got on the property.


6 posted on 10/26/2009 5:33:47 PM PDT by Brown Deer
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To: Brown Deer

Why don’t they also start an investigation into Northern Trust in Illinois? Obama got his 30-year $1.32 million loan from them at a 5.62% rate well below the going rate of 6% at the time and paid absolutely no discount points or origination fees. In comparison to what other people would have been charged at the time, he is saving over $300 monthly on his mortgage payments, not to mention the deal he got on the property.””

Did he have to show a birth certificate???


7 posted on 10/26/2009 6:29:59 PM PDT by ridesthemiles
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To: Brown Deer

What would the monthly payments be on that amount?

What income does he have to pay it with today?


8 posted on 10/26/2009 6:31:03 PM PDT by ridesthemiles
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To: Brown Deer

Easy now....

that might be racist!

;)


9 posted on 10/26/2009 6:35:30 PM PDT by ConfidentConservative (I think, therefore I am conservative.)
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To: The Comedian

Yep. This is going nowhere.


10 posted on 10/26/2009 6:38:19 PM PDT by TruthWillWin (The problem with socialism is that you eventually run out of other peoples money.)
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To: ridesthemiles

about $7600


11 posted on 10/26/2009 7:47:33 PM PDT by Brown Deer
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To: NormsRevenge

What a joke - Obama and Holder with “white” wash it. Rahm and Jamie Gorelnick should be in jail with Franklin Raines and others at Fannie and Freddie plus Stan O’Neil at Merrill to name a few.


12 posted on 10/26/2009 9:38:16 PM PDT by Frantzie
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