House Quietly Ends Investigation Into “Friends Of Angelo” Membership Perks

Bloomberg via American Banker A House panel ended a probe of alleged preferential lending by Countrywide Financial to lawmakers and aides without taking action, saying the “serious matters” submitted for review fall outside its jurisdiction. Allegations surrounding mortgage loans to House members and staffers through Countrywide Chief Executive Officer Angelo Mozilo’s “Friends of Angelo” initiative […]

Democrat tried to shield loans from probe

Larry Margasak, AP via the Charlotte Observer A Democratic committee chairman overrode his own subpoena three years ago in an investigation of former subprime mortgage lender Countrywide Financial Corp. – excluding records showing that he, other House members and congressional aides got VIP discounted loans from the company, documents show. The procedure to keep the […]

Too Little Too Late: Issa Goes After Countrywide VIP Loans

John Bresnahan, Politico According to Issa’s report, preferential treatment given to Conrad by Countrywide on two loans — a vacation home in Delaware and a small apartment building in North Dakota — saved the Democrat more than $20,000 beginning in 2002. Conrad, however, was cleared by the Senate Ethics Committee of any wrongdoing in his […]

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