Report: Countrywide Used Loan Discounts to Buy Congress, : Informati... - 0 views
www.informationclearinghouse.info/article31779.htm
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The former Countrywide Financial Corp., whose subprime loans helped start the nation's foreclosure crisis, made hundreds of discount loans to buy influence with members of Congress, congressional staff, top government officials and executives of troubled mortgage giant Fannie Mae, according to a House report. The report, obtained by The Associated Press, said that the discounts - from January 1996 to June 2008, were not only aimed at gaining influence for the company but to help mortgage giant Fannie Mae.
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Among those who received loan discounts from Countrywide, the report said, were: - Former Senate Banking Committee Chairman Christopher Dodd, D-Conn. - Senate Budget Committee Chairman Kent Conrad, D-N.D. - Mary Jane Collipriest, who was communications director for former Sen. Robert Bennett, R-Utah, then a member of the Banking Committee. - Rep. Howard "Buck" McKeon, R-Calif., chairman of the House Armed Services Committee. - Rep. Edolphus Towns, D-N.Y., former chairman of the Oversight Committee. - Rep. Elton Gallegly, R-Calif. - Top staff members of the House Financial Services Committee. (AP)