Comments on: Staff Report | How Countrywide Used its VIP Loan Program To Influence Washington Policymakers

By: Charles Fetters

Charles Fetters — Fri, 06 Jul 2012 04:33:24 +0000

Let’s keep in mind that it was Countrywide Ceo Angelo Mozilo, along with Paul Mullings senior vice President of Freddie and Fannie that formed MERS (Mortgage Electronic Registry Service). They then got the banks to sign on as members. Along with Stewart Title company,and the Mortgage Bankers Association of America.
Now Countrywide is operating as “Penny Mac”, same mafia, just a new store front operation. Does the crime never stop? All of Angelo’s former employees are operating the new Penny Mac store.
I wonder will Bank of America now start dumping the bad loan mods into Penny Mac?

By: Jason Werner

Jason Werner — Thu, 05 Jul 2012 22:20:00 +0000

Disgusting.

Yeah, it’s nice this is being exposed, but it’s truly disgusting.

By: Sal

Sal — Thu, 05 Jul 2012 18:12:18 +0000

Folks, this is not about gifts or special VIP loans. Its about BRIBERY. However, and most importantly, its about ACCEPTING BRIBES. Our govt employees are ACCEPTING BRIBES. We foolishly let the narrative take another track, so we get confused as to what is the reality. It is a Federal Crime to accept bribes, PERIOD, worse then the Federal Crime of offering bribes IMHO. Now, what to we do when those who accepted bribes are employed by us to prosecute themselves?

By: Richard

Richard — Thu, 05 Jul 2012 16:39:50 +0000

This is racketeering at it’s height! If the “boys” from the Mafia did this , they’d be facing thiry years in prison! This demonstrates that the “banksters” have bought the decision-makers in Congress! ENOUGH IS ENOUGH! Bribery, unlawful compensation, conspiracy to commit racketeering…the list goes on. The citizens of this country need to initiate a second revolution by all means necessary in the courts. The problem is…most Judges are uneducated in these matters, or get most of their campaogn contributions from the “banksters”.

By: talktotennessee

talktotennessee — Thu, 05 Jul 2012 15:57:12 +0000

Lets do a head count here to see where things stand? How many Democrats and how many Republicans accepted the VIP favored treatment! Stir a little media fire?

By: talktotennessee

talktotennessee — Thu, 05 Jul 2012 15:55:01 +0000

In reply to talktotennessee. How does that famous quote go about shirking responsibility? "When good people do nothing. . . . . " What we need are term limits and strict lobbying-perks regulations ON CONGRESS!

By: talktotennessee

talktotennessee — Thu, 05 Jul 2012 15:36:48 +0000

Keep friends close and your enemies (Congressmen) closer!
Many answers relate to the fact Countrywide’s VIP program creators believed the Congressmen and staff to be “good risks” who would repay loans, deserving low rates, preferential treatment in financing, refinancing. Probably to include “money out” with appraisal enhancement to boot. Nothing is said about compromising congressional influence on matters related to banking regulation in a position of power to influence for such decisions.
This was always considered by most legal minds to be bribery or conspiracy to influence the outcome of legislation using ones critical position as a springboard. A little more than giving the Congressman a ham for Christmas don’t you think?
Clearly fraud, conspiracy to defraud!. They explain it so simply as “good risks” deserving expeditious handling of their favorable loans. Lobbyists and banking is still buying favor today, pandering to Congress, like Jamie Dimon did recently. History repeats?
Has anything changed today in our Congress?