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 ...
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.