Posted on 06/21/2008 1:41:45 PM PDT by K-oneTexas
The Countrywide six
By John Bender
web posted June 16, 2008
The news that former Secretary of Housing and Urban Development Alphonso Jackson was one of the sleaze bags who enriched themselves with sweat heart deals on mortgages from Countrywide Financial makes it a bipartisan scandal and eliminates the slim possibility that any of them will be brought to justice.
The ruling political class doesn't like to bring its members to justice. But if one political party can gain political advantage by going after a few members of the political class who happen to be in the other party, they will grab that opportunity.
Until it was discovered that Jackson, a Republican who resigned from his post as Secretary of H.U.D to avoid an investigation of his alleged corruption, was one of the political hacks who took below market loans from the corrupt corporation, the Countrywide scandal was a strictly Democrat scandal. As such it had the potential to provide Republicans a chance to make it an issue this election year. That potential is gone now.
Until it was revealed that Jackson was also involved those exposed in reports of the scandal were:
However, like other bipartisan scandals of the past, this scandal will now go nowhere. And none of the slime balls will be brought to justice. Like the Keating Five scandal, the House bank scandal, and so many others, everyone will walk away from this with no real consequence for their actions. There is no political advantage for either of the ruling parties so there is no appetite to harm a member of the ruling political class.
The political hacks who make up the Countrywide Six, like the political hacks who made up the Keating Five, will all walk away laughing at their subjects who are footing the bill for the mortgage crisis like they did for the S&L meltdown.
Things aren't supposed to be this way in America. This wasn't what the Founding Fathers intended, but this is what we've degenerated to and there's no sign it will get any better any time soon. It certainly will not improve when we elect either John McCain or Barack Obama in November.
John Bender is a freelance writer living in Dallas. He is a former staff writer for Ether Zone and his columns have appeared in various print and Internet publications.
Has everyone forgotten the "Keating Five"? That was four Democrat Senators plus John McCain. McCain's presence as the token Republican, insured that all participants got mere reprimands, rather than anything worse.
Congressman Billybob
John Bender is a freelance writer living in Dallas. He is a former staff writer for Ether Zone and his columns have appeared in various print and Internet publications.
A few too many absolute declarations in this sample. Hopefully the writer is in fact not God or else there's no point in getting out of bed to fight the good fight.
On the other hand, restraining the inner Jeremiah might help to keep one employed steadily, as well.
“sweat heart”
I never want a sweaty heart.
I don’t agree...the BIG NAMES in the scandal are Democrat senators. I say go after THEM...if it were two Republican senators, not a cabinet or lower level, you can damn well bet the liberals would be shouting it from the roof tops.
Go after Dodd and Dorgan.
The Dodd-Shelby housing bill bailing out Countrywide thru the Bank of America is disclosed thoroughly by Denningers post today on Market Ticker...the bailout is backed up by Ginnie Mae which means the US taxpayer has FULL liability for Countrywides transgressions and Bank of Americas liability...also the bill is the blueprint for bailing out Fannie Mae, Freddie Mac, thus transferring bad mortgage debt up to $3 TRILLION more on public debt now totalling a MERE $9-10 trillion....the LINK: http://market-ticker.denninger.net/authors/2-Karl-Denninger
Below is from George Washington’s Farewell Address!
Warns against the party system.
“It serves to distract the Public Councils,
and enfeeble the Public Administration....
agitates the Community with ill-founded jealousies
and false alarms; kindles the animosity of one....
against another....
it opens the door to foreign influence and corruption.
..thus the policy and the will of one country are
subjected to the policy and will of another.”
Stresses the importance of religion and morality.
“Where is the security for property, for reputation,
for life, if the sense of religious obligation desert
the oaths, which are the instruments of investigation
in Courts of Justice?”
On stable public credit. ..cherish public credit.
One method of preserving it is to use it as
sparingly as possible...
avoiding likewise the accumulation of debt....
it is essential that you...bear in mind,
that towards the payments of debts there must
be Revenue, that to have Revenue there must be
taxes;
that no taxes can be devised, which are not...
inconvenient and unpleasant...”
Warns against permanent foreign alliances.
“It is our true policy to steer clear of permanent
alliances with any portion of the foreign world...”
I can’t believe it’s just 6. Probably more like 60.
Bump
they all drew straws to see which six would get outed and have to take a slap on the wrist.
Donna Sha-la-la is actually the president of the University of Miami in Coral Gables, not the University of Florida in Gainesville.
On Wednesday’s Hannity and Idiot show. A house Republican called for an investigation and said there were now ten names on the list nine of them Democrats. Did anyone else see this. I am waiting for one more name to appear. Terry McCauliffe. I am wondering if he obtained the money loaned to Bill and Hill interest free for their home purchase from countrywide.
read later
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