Skip to comments.Report: Countrywide won influence with [Dodd and Conrad] discounts
Posted on 07/05/2012 7:02:09 AM PDT by Perdogg
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, according to a House report.
(Excerpt) Read more at news.yahoo.com ...
Dodd has to be one of the most corrupt pigs to ever serve in congress. I wonder how much money he has now? I’m sure he’s enjoying his retirement in style.
It’s all part of the standard “Screw Mr. Everyman Plan” and then head for the hills. Has any member of Congress ever been prosecuted for influence peddling?
I believe the legal term is “BRIBE”.....
Dodd should be in JAIL!!
scumbag jim johnson of fannie, didnt even payhis bills!!! This clown is one of the biggest scums in washington...[from article]...
Former Fannie Mae heads James Johnson, Daniel Mudd and Franklin Raines. Countrywide took a loss on Mudd’s loan. Fannie employees were the most frequent recipients of VIP loans. Johnson received a discount after Mozilo waived problems with his credit rating.
The report said Mozilo “ordered the loan approved, and gave Johnson a break. He instructed the VIP unit: ‘Charge him 1/2 under prime. Don’t worry about (the credit score). He is constantly on the road and therefore pays his bills on an irregular basis but he ultimately pays them.’”
Johnson in 2008 resigned as a leader of then-candidate Barack Obama’s vice presidential search committee after The Wall Street Journal reported he had received $7 million in Countrywide discounted loans.
It sure would help if once in a while some of these losers were indicted. It has a wonderful deterrent effect.
My other pet peeve is it cannot be repeated enough that these pols Democrat and Republican alike are not subject to Obamacare. Talk about a conflict of interest helped along by safe voting districts. There is much to do.
I saw this on Fox & Friends this morning. Dodd and Conrad were mentioned and apparently other democrat congress critters were also involved and (they said) a couple of Republicans.
Wonder who those were. Not surprising about the dems...they are mostly crooks.
Every person who *wink wink* participated in this theft of money and public TRUST should be doing time in the greybar hotel.
Chris Dodd is now chairman and CEO of the Motion Picture Association of America (MPAA).
A staffer to Bennett was involved, but the GOP dumped Bennett.
The House report is useless, unless Dodd and Frank are brought to trial.
I hope that the House will consider this a priority.
Im sure hes enjoying his retirement in style.
And enjoying every tasty spoonful, until...
Dodd: Waiter, there's a bar of thoap in my thoup!
Tyler Durden: Maybe somebody is telling you to clean up your act, Sir.
Wonder how the soup is in prison?
As the article notes, in addition to Dodd and Conrad, the crooks include current Republican House members Howard “Buck” McKeon and Elton Gallegly and former Congressman Tom Campbell, along with Democratic Congressman Edolphus Towns and former Democratic Cabinet secretaries Alphonso Jackson, Henry Cisneros, and Donna Shalala.
Why the heck is this coming out now? The “friends of Angelo” program was known a couple of years ago and, especially Dodd’s sweetheart deals for his houses, one I believe is in Ireland. The timing of this coming out now smells.
There. I fixed it.
It’s deeper than I can ever know.
Feel so hosed!
If Romney wins and the gop takes every seat in congress, I predict nothing will be done to any of the crooks.
How in the hell DODD/FRANK were ever permitted to write any bank regulations may be another in a series of crimes of the century commited by the obama anti american socialist democrat regime. If it is ever investigated, these two most likely were one of the main causes of the mortgage meltdown in the first place.
In corporate America, when an executive is asked/required to move in other to take a new position, part of the relocation package often includes a mortgage at a below market rate. This is usually done if the exec, in selling, is forced to give up the existing mortage for a new one AT A HIGHER RATE.
Whatever the reason, it is part of the IRC that the COST SAVINGS in dollars to the exec, from the savings due to a lower interest rate, is TAXABLE INCOME each year to the individual.
Seems only fair that all these crooks should have to pay taxes on the value of their discounted mortgages.
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