Skip to content


Democrat seeks GOP names on Countrywide VIP loan list

WASHINGTON (Reuters) – The top Democratic member of a congressional oversight panel turned up the heat on its Republican chairman on Tuesday to identify the four GOP lawmakers who got special treatment in the controversial “Friends of Angelo” mortgage program run by the now-defunct Countrywide Financial Corp.

Representative Elijah Cummings of Maryland, the ranking Democrat on the House Oversight and Government Reform Committee, sent a letter on Tuesday to the panel’s chairman, Representative Darrell Issa, a California Republican, in which he pressed for disclosure of all four GOP congressmen’s names. In the letter, Cummings took issue with how Issa has handled the investigation into the Countrywide VIP loan program.

“In response to your subpoena, the Committee obtained information about four previously unknown instances in which Members of Congress received VIP loans, including three current Republican House Members and one former Republican House Member. After discovering that all of these Members are Republicans, you sent a letter on December 16, 2011, referring their cases to the House Ethics Committee,” Cummings wrote in the letter dated January 17th to Issa.

The “Friends of Angelo” program’s name refers to Angelo Mozilo, the former chairman and CEO of Countrywide, the California-based lender that became a dominant player in the mortgage business during the housing boom. In October 2010, Mozilo agreed to pay $67.5 million in a combined penalty and “disgorgement of ill-gotten gains” to settle SEC charges of fraud and insider trading related to Countrywide’s risky subprime mortgage lending practices. At the time, the U.S. Securities and Exchange Commission said the $22.5 million fine was the largest ever paid in an SEC settlement by a senior executive of a publicly traded company.

Issa has waged a high-profile campaign for three years to obtain mortgage files of members of Congress who received special treatment from Countrywide.

POTENTIAL FOR A POLITICAL FIRESTORM

Disclosures about members of Congress getting discounted loans and other financial perks have the potential for a huge backlash in an election year.

Veteran GOP Representatives Howard McKeon and Elton Gallegly, both Republicans of California, have admitted their names are on a list of members of the U.S. House of Representatives who received discounted loans from Countrywide, according to the Saturday edition of The Wall Street Journal.

Cummings criticized Issa for reversing course during the investigation after previously saying he would disclose the names of any lawmakers who received VIP loans. Instead, after receiving information about four previously unknown instances of politicians winning favor from the mortgage lender last month, Issa sent the names to the House Ethics Committee.

“Since you failed to consult with me before taking these actions, I have several questions about how you want to proceed with the investigation,” Cummings wrote.

The Maryland Democrat called on Issa to name the two remaining loan recipients. Cummings also wanted to know why Issa planned to interview Countrywide officials who were involved in the “Friends of Angelo” loan dealings.

“Rather than publicly identifying the four additional Members who received Countrywide loans or attempting to determine whether they took any official actions on behalf of Countrywide, you chose instead to refer their cases to the Ethics Committee,” Cummings wrote.

“These sudden shifts raise key questions about how you plan to proceed with this investigation,” he added.

Cummings also asked if Issa intends to schedule public hearings on the investigation and whether he will call on Mozilo to testify.

A spokesman for Issa was not immediately available for comment late on Tuesday.

After the housing bust and widespread defaults on subprime mortgages, the failing Countrywide was acquired by Bank of America in 2008.

(Reporting By Margaret Chadbourn; Editing by Jan Paschal)

Mochila insert follows…

Related Posts with Thumbnails

Posted in Politics.

Tagged with , , , , .


0 Responses

Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.



Some HTML is OK

or, reply to this post via trackback.

Support #altnews & keep Dark Politricks alive

Remember I told you over 5 years ago that they would be trying to shut down sites and YouTube channels that are not promoting the "Official" view. Well it's all happening now big time. Peoples Channels get no money from YouTube any more and Google is being fishy with their AdSense giving money for some clicks but not others. The time is here, it's not "Obama's Internet Cut Off Switch" it's "Trumps Sell Everyones Internet Dirty Laundry Garage Sale". This site must be on some list at GCHQ/NSA as my AdSense revenue which I rely on has gone down by a third. Either people are not helping out by visiting sponsors sanymore or I am being blackballed like many YouTube sites.

It's not just Google/YouTube defunding altenative chanels (mine was shut), but Facebook is also removing content, shutting pages, profiles and groups and removing funds from #altnews that way as well. I was recently kicked off FB and had a page "unpublished" with no reason given. If you don't know already all Facebooks Private Messages and Secret Groups are still analysed and checked for words related to drugs, sex, war etc against their own TOS. Personally I know there are undercover Irish police moving from group to group cloning peoples accounts and getting people booted. Worse than that I know some people in prison now for the content they had on their "secret private group". Use Telegrams secret chat mode to chat on, or if you prefer Wickr. If you really need to, buy a dumb phone with nothing for the NSA/GCHQ to hack into. Ensure it has no GPS tracking on it and that the battery can be removed. These are usually built for old people to get used to technology storing only a set of numbers to call. However they have no games, applications to install or other ways people can exploit the computer tracking device you carry round with you most of the day - your smart phone. If you are paranoid ensure that you can remove the battery when travelling around and do so to prevent GPS tracking or phone mast triangulation. Even with your phone in Flight mode or turned off, it can be turned on remotely and any features like front or back cameras, microphones and keylogging software can be installed to trace you.

So if your not supporting this site already which brings you news from the Left to the Right (really the same war mongering rubbish) then I could REALLY do with some..

Even if it's just £5 or tick the monthly subscription box and throw a few pound my way each month, it will be much appreciated. Read on to find out why.

Why?

Any support to keep this site would be appreciated. You could set up a monthly subscription for £2 like some people do or you could pay a one off donation as a gift.
I am not asking you to pay me for other people's articles, this is a clearing house as well as place to put my own views out into the world. I am asking for help to write more articles like my recent false flag gas attack to get WWIII started in Syria, and Trump away from Putin. Hopefully a few missiles won't mean a WikiLeaks release of that infamous video Trump apparently made in a Russian bedroom with Prostitutes. Also please note that this article was written just an hour after the papers came out, and I always come back and update them.

If you want to read JUST my own articles then use the top menu I have written hundreds of articles for this site and I host numerous amounts of material that has seen me the victim of hacks, DOS plus I have been kicked off multiple hosting companies, free blogging sites, and I have even had threats to cease and desist from the US armed forces. Therefore I have to pay for my own server which is NOT cheap. The more people who read these article on this site the more it costs me so some support would be much appreciated.

I have backups of removed reports shown, then taken down after pressure, that show collusion between nations and the media. I have the full redacted 28/29 pages from the 9.11 commission on the site which seems to have been forgotten about as we help Saudi Arabia bomb Yemeni kids hiding in the rubble with white phosphorus, an illegal weaapon. One that the Israeli's even used when they bombed the UN compound in Gaza during Operation Cast Lead. We complain about Syrian troops (US Controlled ISIS) using chemical weapons to kill "beautiful babies". I suppose all those babies we kill in Iraq, Yemen, Somalia and Syria are just not beautiful enough for Trumps beautiful baby ratio. Plus we kill about 100 times as many as ISIS or the Syrian army have managed by a factor of about 1000 to 1.

I also have a backup of the FOX News series that looked into Israeli connections to 9.11. Obviously FOX removed that as soon as AIPAC, ADL and the rest of the Hasbra brigade protested.

I also have a copy of the the original Liberal Democrats Freedom Bill which was quickly and quietly removed from their site once they enacted and replaced with some watered down rubbish instead once they got into power. No change to police tactics, protesting or our unfair extradition treaty with the USA but we did get a stop to being clamped on private land instead of the mny great ideas in the original.

So ANY support to keep this site running would be much appreciated! I don't have much money after leaving my job and it is a choice between shutting the server or selling the domain or paying a lot of money just so I can show this material.

Material like the FSB Bombings that put Putin in power or the Google no 1 spot when you search for protecting yourself from UK Police with "how to give a no comment interview". If you see any adverts that interest you then please visit them as it helps me without you even needing to give me any money. A few clicks per visit is all it takes to help keep the servers running and tag any tweets with alternative news from the mainstream with the #altnews hashtag I created to keep it alive!

However if you don't want to use the very obvious and cost free ways (to you) to help the site and keep me writing for it then please consider making a small donation. Especially if you have a few quid sitting in your PayPal account doing nothing useful. Why not do a monthly subscription for less money instead. Will you really notice £5 a month?



css.php