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Four Current Members Of Congress Received VIP Loan Offers From Countrywide Financial

» 26 comments

House Oversight and Government Reform Committee chairman Rep. Darrell Issa disclosed in a letter sent Friday that four current members of Congress received special VIP loans through new-defunct mortgage lender Countrywide Financial.

Issa wrote to Rep. Jo Bonner, chairman of the House Ethics Committee, and Rep. Linda Sanchez, a ranking member within the Committee, alerting them to the existence of these undisclosed, below-market mortgage loans:

RELATED: Joe Scarborough: Newt’s Going To Have To Explain Why He Got $300,000 From Freddie Mac

Documents reviewed by the Committee show that four current members of the U.S. House of Representatives received loans through this VIP program.

In accordance with this Committee’s policy to forward information relating to possible wrongdoing by Members of Congress to the appropriate ethics committee, I write to bring the existence of these loans to your attention.”\

Between January 1996 and June 2008, Countrywide’s VIP unit gave discounted loans to employees of the federal government including the U.S. Congress. [...] My staff is also aware of the possibility that loans with VIP-benefits were conferred to other Members, and serviced by a separate loan processing branch.

Issa added that Countrywide used this “VIP” outreach effort to “build relationships with government officials and others positioned to advance Countrywide’s business interests,” offering as many as 173 discounted loans to employees of Fannie Mae and Freddie Mac.

h/t Politico

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  • AMP2020

    *Vomits*

  • Anonymous

    Surprise, surprise. Congress is corrupt.

  • Anonymous

    Well who are they?

  • Pablo

    Some Democrats, including Rep. Elijah Cummings (D-Md.), ranking member
    of Oversight and Government Reform, criticized Issa’s demand for
    Countrywide documents back in February as “unnecessary,” but Issa has
    vowed to continue to dig into the details of the VIP effort.

    Sigh.

  • Anonymous

    There are still a few percentage points left to drop by congress and I don’t think they’ll disappoint.

  • Anonymous

    This has some parrallels to the whole MAxine Waters fiasco.  Does anyone have a link the the Mediaite article on Maxine’s scandal so I can compare and contrast?

  • Anonymous

    Republicans–that is why Issa is holding back..
    if they were dems it would be leaking like a cracked bucket..

  • Anonymous

    i agree with Rick Perry…
    all of these assholes need to get 1/2 the pay and have to get real jobs..
    take away their benefits and make our government public service again instead of a career for the criminally insane..
    ON BOTH SIDES OF THE ISLE~

  • Anonymous

    Two of them were already named back in Issa’s March 19, 2009 report — Christopher Dodd and Kent Conrad (both D’s).

    “… Many of the people in position to reform the GSEs and extinguish the flames before the danger spread were receiving perquisites from a VIP loan program operated by Countrywide under the supervision of Chairman and CEO Angelo Mozilo. These included Fannie Mae Chief Executive Franklin D. Raines and two Senators with legislative jurisdiction over the issues at the heart of the emerging financial crisis – Christopher Dodd and Kent Conrad.”

  • Anonymous

    where are the rest?
    if any member of congress gets special treatment in lieu of any vote–they should be kicked out..
    Ds and Rs -if they cannot serve without bias–they cannot serve..
    they are paid too much and get too many bennies to do too much harm..
    both sides..
    with the welfare-for the poor and the rich..
    the bad tax code where the top and bottom pay nothjng and the rest carry the load..
    the unfair trade–the laws that keep people in crap jobs for health insurance and force business to offer it..

    it is all a con job on both sides..
    it is like pro wrestling..
    they get the country divided–as they divide the loot amongst themselves..
    the tea party and the OWS need to unit and elect ron paul…screw them all~
    (i just made a rhyme)

  • Anonymous

    This is why folks like Palin look like geniuses right now. She’s one of only several members that are actually talking about deep-rooted corruption.

    And I love that both the D’s and the R’s tried to keep her out of Presidential office over this fact.

    Throw them all out!

  • Anonymous

    And force them to use Obama care with the rest of us….

  • Anonymous

    Unfortunatly I dont think we’ll ever throw them all out under current circumstances.

    The nation will have to experience a life altering catastrophe within our economy, in order for this to happen…

    Its gonna get darker before it gets brighter…

  • Anonymous

    no–give a governmemnt option..dipshit…

    give us the same opportunity to buy the same insurance that our congress and military get…
    quit with the false arguments..
    IT WAS NEWT AND MITT WHO WANTED MANDATED INSURANCE..IT WAS THE CONS..
    we just wanted a govie option…OPTION..

  • Anonymous

    They do use “Obama care.”

    Do you ever wonder if it might be a good idea to learn what “Obama care” is?

  • http://twitter.com/runforfun54 American

    The House Ethics Committee is a joke as long as Tea Party darling and DEADBEAT DAD Cong. Joe Walsh has gone unchallenged. Not a doubt in my mind that the 4 members are Repugs.

  • Anonymous

    Do you of you really believe they are “serving their country” to serve their country.

  • Anonymous

    Hey look!  another profane response from the resident mediaite village idiot!

  • Anonymous

    hey look another NONresponse from another full of shit fake pious, hypocrite dirt bag..
    hey slime ball—if you cannot prove me wrong..
    DON’T ATTACK ME WITH THE SAME STUPID SHIT YOU ACCUSE ME OF…
    you do understand how stupid that is right?
    you do understand when you attack me for attacking others..
    YOU ARE WORSE THAN ME?
    so that rubber glue thingy?
    you know bounces off of me and sticks to YOU???
    THIS IS WHAT IT MEANS..
    so quit being stupid–STUPID~

  • Anonymous

    Not when the original and signed…the initial legislation was signed into law exempting congress, staffers, and WH staff from the same requirements placed on every other federal employee under the new law.

    But since were on the the topic Bob, why don’t you explain what Obama Care is?

  • Anonymous

    There is no such thing as Obama Care. It’s a phrase used by Republicans to convince morons that the government is offering some kind of healthcare program. They know you’re stupid, so they know they can make you believe ANYTHING.

  • Anonymous

    Are you really A_smug_self_righteous_liberal , or a snotty wrong-wing punk?
    I figure that if the recipients were Democrats, Issa would have said so.
    But without any names, how do you plan to “compare and contrast”?

  • http://twitter.com/carrborodan Carrboro Dan

    ahh yes, you think if we pay them less they won’t be looking for more ways to take money for influence?  you think those companies that give them “real jobs” aren’t going to hire them to do nothing in order to curry favor?  That’s why I never understand the calls to cut pay for politicians.  I don’t see how cutting pay will do anything but increase corruption.

  • Anonymous

    well it is a start. to pay these people over 200k with bennies for 150 days worth fo work-most of which they spend on the campaing trail–is silly.
    these are the same people who say teachers are overpaid.
    THESE ARE THE SAME PEOPLE WHO WOULD NOT BE HIRED TO RUN A SUBWAY SANDWICH SHOP..
    the whole process stinks..
    from small towns to the white house..
    the game is rigged as the most corrupt and incompetant make rules on things they cannot grasps..
    it would be easier to let monkeys build space ships..
    that is why we get all of the lies, hyperbole and nonsense on jobs, health care etc etc..
    it is not only that these assholes are bought and paid–THEY ARE JUST IGNORANT TO REALITY…
    and that is really sad…
    instead of hiring the biggest liars and con artists–why can’t we get the best and brightest?
    oh ya–we tried that with our president…and quess what…
    for some reason now actually having knowledge of that you speak–makes you UPPITY..
    crazy man..

  • Anonymous

    He’s not talking about the US Senate.  He’s talking about the House of Representatives.  Dodd and Conrad were senators. We already knew about their loans

  • Anonymous

    The way to get elected is not to call your opponent a “Terrorist” and not respond when the crowd you have rev’d up begins calling out “kill him”.

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