Countrywide used VIP program to sway Congress: report

Jul 5, 2012 | Posted by: roboblogger | Full story: Reuters

A VIP mortgage program run by now-defunct Countrywide Financial Corp was used to influence lawmakers with the aim of killing legislation that could hurt the company's profits, a congressional report released on Thursday said.

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Since: May 11

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#1
Jul 6, 2012
 
Corrupt businesses, corrupt government leaders. That's what our country has become.

“i hope we can change this!”

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#2
Jul 6, 2012
 

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PayThat CEO wrote:
Corrupt businesses, corrupt government leaders. That's what our country has become.
add in a bunch of mindless lemmings following "free stuff" and, you've pretty much got it.

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#3
Jul 6, 2012
 

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PayThat CEO wrote:
Corrupt businesses, corrupt government leaders. That's what our country has become.
The Good news is that many are resigning or not running again before the trials and loss of benefits begin.

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#4
Jul 6, 2012
 

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carey529 wrote:
<quoted text>
add in a bunch of mindless lemmings following "free stuff" and, you've pretty much got it.
Da lemmings are sucking hind tit right now.......Just 80,000 jobs added in June...which will be adjust downward next week quietly after the black bus is back in the garage.

Unemployment rate for blacks jumps to 14.4%...which means actually about 25% if you count all blacks out of work.

Lights go dim on another Obama energy project...the boy is consistant.

“Truth to Power!”

Since: Apr 07

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#5
Jul 6, 2012
 
PayThat CEO wrote:
Corrupt businesses, corrupt government leaders. That's what our country has become.



Pull up your panties and clean yourself up toots. Corrupt Businesses can be brought to justice. The Problem is The Corrupt Government that is allowed to police itself AND has useful idiots claiming they are above the law when they've obviously committed crimes.


If you want to fix this, start Sending Criminal Congressmen & Presidents like Barack Obama to Prison. That is the only way to make them understand they Are Not Above the Law.


Do you have the integrity to allow for your party leader(s) to be arrested & tried when they commit crimes?

That is the question.

“Truth to Power!”

Since: Apr 07

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#6
Jul 6, 2012
 


Representative Darrell Issa, the Republican chairman of the panel, has waged a high-profile campaign for three years to obtain mortgage files of members of Congress who received special treatment from Countrywide.

Countrywide, acquired by Bank of America Corp in 2008, was a California-based lender that became a dominant player in the mortgage business during the housing boom. Both the company and its long-time chief executive, Angelo Mozilo, became synonymous with the risky lending practices that set the housing market up for its downfall.

In a letter provided by his lawyer, Mozilo denied using the VIP program to sway policy decisions and said he did not recall many of the details about the origination and the pricing of those loans.


“Truth to Power!”

Since: Apr 07

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#7
Jul 6, 2012
 


The congressional report said a Countrywide lobbyist, Jimmie Williams, would route individuals in Congress who needed a loan to the VIP program. Those with problems with existing loans were referred to a select customer-service unit, the report said.

Williams used the program to "create a favorable impression of the company on Capitol Hill," it said. A lawyer for Williams was not immediately available to comment.

Thursday's report did not identify new members of Congress receiving loans as so-called "Friends of Angelo." At least six current or former lawmakers from both parties were previously identified.

They included former Senate Banking Committee Chairman Christopher Dodd and Senate Budget Committee Chairman Kent Conrad, according to the report.

The VIP unit also processed loans for Reps Howard "Buck" McKeon; Pete Sessions; former Oversight Committee Chairman Edolphus Towns; and Elton Gallegly, the report said.

Sessions requested that he not receive any special benefits and did not receive a discounted loan, the report said.

“Truth to Power!”

Since: Apr 07

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#8
Jul 6, 2012
 


(D) Dodd, who now heads the Motion Picture Association of America and has said previously that he did nothing wrong but we all know he's a liar.


Since: Oct 08

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#9
Jul 6, 2012
 

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One word....Barney Frank.....
Gravediggers

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#10
Jul 6, 2012
 
SPECIAL PREVILEGES FOR POLITICIANS!

The rest of us are STUCK.

and Democrat Senator Chris Dodd was/is a first class ass. HE gets special deals, HE gets his wife on Special Boards and rakes in $$$$ for JUST sitting on a board.
Joey Sanchez

AOL

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#11
Jul 6, 2012
 
A Sweetheart mortgage DEAL was the reason Connecticutt Democratic Senator Chris Dodd didn't run for re-election.

Since: May 11

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#12
Jul 6, 2012
 
The laughing liberal wrote:
<quoted text>
Pull up your panties and clean yourself up toots. Corrupt Businesses can be brought to justice. The Problem is The Corrupt Government that is allowed to police itself AND has useful idiots claiming they are above the law when they've obviously committed crimes.
If you want to fix this, start Sending Criminal Congressmen & Presidents like Barack Obama to Prison. That is the only way to make them understand they Are Not Above the Law.
Do you have the integrity to allow for your party leader(s) to be arrested & tried when they commit crimes?
That is the question.
You corporate butt-licking idot. Who do you think runs this country? Politicians? LMAO. They are simply the remora hanging onto the sharks for a meal. Nothing will change until we get big business and religion (another big business) out of government. And I can hardly see that happening with Mr. Big Business himself Rich Scumney. He'll be the biggest ass-kisser Wall Street has ever seen.

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#13
Jul 6, 2012
 
inbred Genius wrote:
One word....Barney Frank.....
If Barney married Anthony Weiner.........would they name their adopted child Oscar, or Ball Park?

Since: Nov 08

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#14
Jul 6, 2012
 
PayThat CEO wrote:
<quoted text>
You corporate butt-licking idot. Who do you think runs this country? Politicians? LMAO. They are simply the remora hanging onto the sharks for a meal. Nothing will change until we get big business and religion (another big business) out of government. And I can hardly see that happening with Mr. Big Business himself Rich Scumney. He'll be the biggest ass-kisser Wall Street has ever seen.
Obama is a divider.......he done divided the jobs in america in half......

Team Obama predicted 5.6% today with stimulus...OBAMA PREDICTED 5.6% UNEMPLOYMENT TODAY IF WE PASSED THE STIMULUS………

Broader Jobless Rate At 14.9%...

Unemployment rate for blacks jumps to 14.4%...

Rate stuck at 11% for Hispanics...

780,000 Fewer Women Employed Under Obama...

Obama:'Step in the right direction'...

DOW PLUNGES...

BOY IS OBAMA GOOD OR WHAT??????????
DNS

Phoenix, AZ

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#15
Jul 6, 2012
 
Obama is a typical brain dead liberal a-hole who happens to have an ability to deliver empty promises (lies) that sound good while presiding over the complete destruction of the US.
He should be hung for treason (once convicted).
Be sure that happens = Don't vote for a single DemocRAT.
2012 - The End of an ERROR
Eric Gustafson

Newport News, VA

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#16
Jul 6, 2012
 
PayThat CEO wrote:
Corrupt businesses, corrupt government leaders. That's what our country has become.


Has become, that's the good ole American spirit, if you can't earn it, Steal It. By our very nature America is a corrupt society from it's inception, we corrupted the values in our founding documents. We never got a chance to put those values into play.
Eric Gustafson

Newport News, VA

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#17
Jul 6, 2012
 
That's an improvement over what Obama replaced, maybe you forgot or were in a coma before he became President, but the Bush Administration was shredding jobs at the tune of 500,000 a month, 6 months running, and 600,00 in Dec 2008.

In the 4 Months before leaving the White House Bush saw 3 Million jobs disappear since 2001 he watched 6 Million redeploy to China.

If not for the hiring of the 1.7 Million Federal Workers mostly for the Department of Homeland Security under Bush, the unemployment rate would have reached 10% in the United State.
Le Jimbo wrote:
<quoted text>
Obama is a divider.......he done divided the jobs in america in half......
Team Obama predicted 5.6% today with stimulus...OBAMA PREDICTED 5.6% UNEMPLOYMENT TODAY IF WE PASSED THE STIMULUS………
Broader Jobless Rate At 14.9%...
Unemployment rate for blacks jumps to 14.4%...
Rate stuck at 11% for Hispanics...
780,000 Fewer Women Employed Under Obama...
Obama:'Step in the right direction'...
DOW PLUNGES...
BOY IS OBAMA GOOD OR WHAT??????????
Eric Gustafson

Newport News, VA

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#18
Jul 6, 2012
 
ROFLMAO

THE EMPLOYMENT SITUATION: DECEMBER 2008

Nonfarm payroll employment declined sharply in December, and the unemployment rate rose from 6.8 to 7.2 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Payroll employment fell by 524,000 over the month.

THE EMPLOYMENT SITUATION: NOVEMBER 2008
Nonfarm payroll employment fell sharply (-533,000) in November, and the unemployment rate rose from 6.5 to 6.7 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. November's drop in payroll employment followed declines of 403,000 in September and 320,000 in October, as revised.

I think you've forgotten where you came from.,,, ROFLMAO

What was the Job Growth this month, a plus 88,000 ROFLMAO
Le Jimbo wrote:
<quoted text>Da lemmings are sucking hind tit right now.......Just 80,000 jobs added in June...which will be adjust downward next week quietly after the black bus is back in the garage.
Unemployment rate for blacks jumps to 14.4%...which means actually about 25% if you count all blacks out of work.
Lights go dim on another Obama energy project...the boy is consistant.
Eric Gustafson

Newport News, VA

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#19
Jul 6, 2012
 
This is duplicates other reports from two years ago, what's new. This was a total waste of time. More waste from a do nothing congress not focused on job growth.
The laughing liberal wrote:
The congressional report said a Countrywide lobbyist, Jimmie Williams, would route individuals in Congress who needed a loan to the VIP program. Those with problems with existing loans were referred to a select customer-service unit, the report said.
Williams used the program to "create a favorable impression of the company on Capitol Hill," it said. A lawyer for Williams was not immediately available to comment.
Thursday's report did not identify new members of Congress receiving loans as so-called "Friends of Angelo." At least six current or former lawmakers from both parties were previously identified.
They included former Senate Banking Committee Chairman Christopher Dodd and Senate Budget Committee Chairman Kent Conrad, according to the report.
The VIP unit also processed loans for Reps Howard "Buck" McKeon; Pete Sessions; former Oversight Committee Chairman Edolphus Towns; and Elton Gallegly, the report said.
Sessions requested that he not receive any special benefits and did not receive a discounted loan, the report said.

Since: Dec 07

Palestine, TX

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#22
Jul 6, 2012
 
Eric Gustafson wrote:
<quoted text>
Has become, that's the good ole American spirit, if you can't earn it, Steal It. By our very nature America is a corrupt society from it's inception, we corrupted the values in our founding documents. We never got a chance to put those values into play.
Mon Jul 2, 2012 3:32pm EDT

(Reuters)- Abound Solar filed for bankruptcy on Monday and will liquidate, becoming the latest U.S. solar panel company to fold despite government support.

Another 400 million dollar nobama fiasco. Bet their execs will get rich as did Solyndra's!! Off the taxpayers backs, the green energy boys get rich.

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