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House Ethics closes Countrywide probe without taking action
thehill.com ^ | 12/27/12 | Peter Schroeder

Posted on 12/28/2012 12:42:26 PM PST by ColdOne

The House Ethics Committee has decided to close its investigation into preferential mortgages doled out under a controversial VIP program without taking any action.

The panel said it was not taking any action on members who received more affordable mortgages under the program, instituted by the now-defunct Countrywide Financial because while allegations surrounding the program and lawmakers involved "serious matters," they largely fell outside its jurisdiction.

For example, many of the allegations pertain to actions outside the Ethics Committee's statute of limitations — greater than three Congresses ago — and many of those accused are no longer working in Congress either as members or staffers.

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


TOPICS: Crime/Corruption
KEYWORDS: countrywide; democrats; dodd; ethics

1 posted on 12/28/2012 12:42:36 PM PST by ColdOne
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To: ColdOne

Obamaland.


2 posted on 12/28/2012 12:43:47 PM PST by Tzimisce (What do you do when every every branch of the government is corrupt and aligned against you?)
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To: ColdOne

The statute of limitations extends to ethics now.

Stand back and ponder that sentence in silence.


3 posted on 12/28/2012 12:44:58 PM PST by combat_boots (The Lion of Judah cometh. Hallelujah. Gloria Patri, Filio et Spiritui Sancto!)
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To: ColdOne

They dragged their feet and ran out the clock. Yeah, this sure make me feel more confident about government honesty.


4 posted on 12/28/2012 12:48:08 PM PST by Timber Rattler (Just say NO! to RINOS and the GOP-E)
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To: ColdOne
Of course, no action. Bawney Fwank and Chris Dodd are Democrats, and it is a Democrat scandal.
Surely no one believed there would be any action.
Did they?
5 posted on 12/28/2012 12:49:52 PM PST by YHAOS
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To: ColdOne

Just declare themselves above the law and get it over with


6 posted on 12/28/2012 12:50:35 PM PST by GeronL (http://asspos.blogspot.com)
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To: ColdOne

‘no controlling legal authority’, as Manbearpig used to say.

‘most ethical administration ever’, as Pelousy used to say.


7 posted on 12/28/2012 12:51:37 PM PST by TurboZamboni (Looting the future to bribe the present)
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To: ColdOne

“Countrywide Financial” - now there’s a bitterly ironic title.


8 posted on 12/28/2012 12:51:41 PM PST by TADSLOS (I took extra credit at the School of Hard Knocks)
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To: GeronL
Just declare themselves above the law and get it over with.

That's just what happened in de facto.

9 posted on 12/28/2012 12:55:43 PM PST by TADSLOS (I took extra credit at the School of Hard Knocks)
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To: ColdOne; All

In 2007 the CEO of Countrywide had a salary of $140 million dollars, the highest in the industry. In 2008 as the banking/mortgage crisis was heating up, he decided to only take about $100 million salary. Of course, he also had large amounts of company stock. IN 2009 Countrywide was dead. I guess the marked DOES work, sometimes. [Source: Forbes CEO Compensation for those years.]


10 posted on 12/28/2012 12:58:23 PM PST by gleeaikin
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To: ColdOne
The House Ethics Committee

Jumbo Shrimp

11 posted on 12/28/2012 1:00:51 PM PST by DTogo (High time to bring back The Sons of Liberty !!)
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To: Tzimisce

Its more than Obamaland - its America-land.

Countrywide gave benefits to Congressmen, and Congressmen wrote the rules that allowed countrywide to sell crap mortgages to GSE’s like Fannie and Freddie, whose losses are covered by taxpayers. Bank of America bought Countrywide for $4 billio, and will wind up losing possibly $40 billion on the deal, while the US Gov’t bails them Bank of America with TARP, and the Federal Reserve also bails them out with zero interest rates and buying questionable debt for their its account. It is in the interest of all of America’s ruling class for this problem to disappear as quietly as possible.

Obama is now just sitting atop the pile of corruption that is the Wall Street-Govt nexus, hoping to push things in his favor - but the structure was built long before him.


12 posted on 12/28/2012 1:02:50 PM PST by PGR88
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To: TADSLOS; ColdOne; All

Sorry, mean to say the MARKET does work sometimes. Incidentally, in 2008 it was still the highest salary in the industry, although Goldman Sachs was right up there with its top 3 executives all with salaries above $65 million. This lead the stockholders to vote that spring for a “stockholder advisory on executive compensation.” This is the best way to deal with overpaid executives. Engage the stockholders’ concern for self preservation.


13 posted on 12/28/2012 1:02:58 PM PST by gleeaikin
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To: ColdOne

The same “ethics committee” that refused to endorse their own report on MF Global because it faulted Corzine?


14 posted on 12/28/2012 1:03:42 PM PST by Roland
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To: Liz

surprise/no surprise ping


15 posted on 12/28/2012 1:05:03 PM PST by thouworm (.)
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To: ColdOne

ColdOne: “ (from the article) For example, many of the allegations pertain to actions outside the Ethics Committee’s statute of limitations — greater than three Congresses ago — and many of those accused are no longer working in Congress either as members or staffers. “

Now let’s see :
Countrywide scandel - that led to the housing market and financial collapse ..
“Fast and Furious” .. ( 18 1/2 months investigation )and an attempt for “Executive Privliledge”
“Benghazi Murders” .. ( 27 days delay before conducting a 7 hour investigation ) and a key witness has delayed testimony for three weeks while recouperating from an alledged concussion

And now we learn that the “Ethics Commision” has a statute of limitations .....
Incredible !!


16 posted on 12/28/2012 1:06:33 PM PST by Tilted Irish Kilt (Disclaimer - the opinions above merely reflect the writers restricted ability to observe reality)
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To: ColdOne

Its one giant hog trough in Washington. They don’t even pretend that much to give a damn anymore. Feign outrage, investigate for a while, put it on the back burner then say there is nothing to be done.


17 posted on 12/28/2012 1:09:00 PM PST by Starstruck (Washinton is presently building a diving board on the fiscal cliff)
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To: combat_boots

combat_boots
“ The statute of limitations extends to ethics now.
Stand back and ponder that sentence in silence.”

I think they found too many skeletons in their own closet.


18 posted on 12/28/2012 1:11:58 PM PST by Tilted Irish Kilt (Disclaimer - the opinions above merely reflect the writers restricted ability to observe reality)
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To: ColdOne

IF: Democrats involved with the sleaze.
THEN: No convictions.

It’s that simple.

Why wait for any results of an “investigation”.

It’s more of an “inbred-estigation.”


19 posted on 12/28/2012 1:13:03 PM PST by Da Coyote
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To: ColdOne
Anyone who uses the words "ethics" and "government" in the same sentence needs to be clubbed like a baby seal.

Mark

20 posted on 12/28/2012 1:18:58 PM PST by MarkL (Do I really look like a guy with a plan?)
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To: ColdOne

House Ethics - Oxymoron.................


21 posted on 12/28/2012 1:19:16 PM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: PGR88

I’m well aware of that.

Obama is definitely a symbol of what is going on in 2013.


22 posted on 12/28/2012 1:22:29 PM PST by Tzimisce (What do you do when every every branch of the government is corrupt and aligned against you?)
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To: Timber Rattler

government honesty???????????????????
Now there is an Oxymoron and a joke and a laugh.
As Will Rogers said many many years ago, “We have the best government money can buy.”
He said that at least 85 years ago and nothing has changed.
Well, it has gotten worse.
Soap box has failed
Jury box has failed
Ballot box has failed
Not much is left.


23 posted on 12/28/2012 1:46:32 PM PST by Tupelo (I'm an old man and most people hate me, but I don't like them either so that makes it all even.)
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To: TADSLOS
“Countrywide Financial” - now there’s a bitterly ironic title.

So true...houses for everyone, all across the fruited plains, compliments of you and I.

24 posted on 12/28/2012 1:56:38 PM PST by Jane Long (Philippians 2:11)
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To: Tupelo

Agree, FRiend.


25 posted on 12/28/2012 1:58:02 PM PST by Jane Long (Philippians 2:11)
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To: YHAOS

yes- but the chairman of the committee is a Republican...just another example of the GOP fighting like little girls...


26 posted on 12/28/2012 1:59:03 PM PST by God luvs America (63.5 million pay no income tax and vote for DemoKrats...)
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To: PGR88

In mid 1998 I had to jump through flaming hoops to qualify for a construction/permanent (CP) loan from Countrywide for the house I wanted to build. Shortly thereafter in 1998 the qualifications suddenly loosened up and my loan was promptly approved. The day after the house was built and the deal closed in mid 1999, Countrywide sold my mortgage to Fanny Mae. Based on my experience, mid 1998 is when Countrywide opened the floodgates and began dumping all their loans on Fanny Mae. This whole fuster cluck commenced then.


27 posted on 12/28/2012 2:05:32 PM PST by shove_it (the 0bama regime are the people Huxley, Orwell and Rand warned us about)
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To: ColdOne
Photobucket

28 posted on 12/28/2012 2:09:45 PM PST by Dick Bachert (An ARMED society is a POLITE society!)
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To: ColdOne

“First kill all the lawyers...”...Shakespere


29 posted on 12/28/2012 3:34:46 PM PST by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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To: ColdOne

Who said the 4-corner offense is dead ?


30 posted on 12/28/2012 4:24:11 PM PST by stylin19a (obama -> Fredo smart)
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To: ColdOne
Sweep and under the rug it goes, thanks again you bunch of crooked Rino bastards.
Tell me again as to why we have Republicans heading committees in the House.
31 posted on 12/28/2012 4:39:37 PM PST by The Cajun (Sarah Palin, Mark Levin......Nuff said.)
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To: God luvs America
"the chairman of the committee is a Republican"

Other than most Conservatives, the Republican Party is merely an auxiliary of the Democrat Party.

32 posted on 12/29/2012 10:27:33 AM PST by YHAOS
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