This morning the House Oversight Committee released its report on just how many government officials received sweetheart loan deals via Countrywide’s “Friends of Angelo” program.
Shockah: Former Countrywide CEO Angelo Mozilo had a whole lot of “friends.” And the company did a whole lot of backscratching to buy influence with members of Congress, congressional staffers, Fannie Mae execs, and government officials.
How to win D.C. friends and influence corrupt politicians. Lovely.
House Oversight Committee chair Darrell Issa breaks down the corruption by the numbers:
The conclusion of the report on “How Countrywide Used its VIP Loan Program To Influence Washington Policymakers” seems to indicate Mozilo and his lobbyists won’t be prosecuted.
The Justice Department has not prosecuted any Countrywide official for actions related to the VIP loan program. Documents and testimony show that Angelo Mozilo and Countrywide’s lobbyists may have skirted the federal bribery statute by keeping conversations about discounts and other forms of preferential treatment internal. Rather than making quid pro quo arrangements with lawmakers and staff, Countrywide used the VIP loan program to cast a wide net of influence.
After today’s report, will the ethics-challenged corruptocrats who accepted these sweetheart deals still claim they “didn’t know” they were getting special treatment?