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US Domestic Issues Topics which focus on issues within the US or concern those who come from or live in the US.

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Old 19-06-2008, 01:05 AM   #1 (permalink)
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The Countrywide Six + One
I wonder what if anything will come of this:
Countrywide Loan Scandal - Portfolio.com

Quote:
Countrywide's Many 'Friends'
Senators Dodd and Conrad are among the government officials who scored V.I.P. loans from C.E.O. Angelo Mozilo. An exclusive Portfolio investigation.

Two U.S. senators, two former Cabinet members, and a former ambassador to the United Nations received loans from Countrywide Financial through a little-known program that waived points, lender fees, and company borrowing rules for prominent people........
The Countrywide Six - Associated Content

Quote:
The Countrywide Six
The following is a list of US politicians that are involved in getting "sweetheart" mortgage deals directly from Countrywide Financial. This is a bipartisan scandal including both the Republicans and Democrats. These politicians were accepting low mortgage rates from Countrywide Financial's CEO Angelo Mozillo (who earns about $103 million in 2006 when foreclosure rates grew 46%) while Countrywide cried about raising foreclosure rates and asking that the government pale them out from their bad business practices.
So far there are seven

The Countrywide Six (from the blue team):
Jim Johnson - former chief of Fannie Mae, and former Obama advisor
Franklin Delano Raines - former chairman of Fannie Mae
Donna Shalala - former Secretary of Health and Human Services
Richard Holbrooke - former assistant Secretary of State
Christopher Dodd - Senator Connecticut
Gaylord Kent Conrad - Senator North Dakota

Plus one from the red team:
Alphonso Jackson - this one is pretty bad considering he was the Secretary of HUD.

Will more be uncovered?
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