Countrywide Won Favor in Washington With VIP Loans

Friday, July 06, 2012

Darrell Issa (R-CA) (Chip Somodevilla/Getty)

It was revealed in 2008 that Countrywide had a VIP program that gave special, low-rate loans to politicians and the company’s partners, including Fannie Mae.

Now a new report by the House Oversight and Government Reform Committee, chaired by Representative Darrell Issa (R-CA), found that these loans were given to politicians and businessmen because Countrywide wanted preferential treatment.

And Issa says Countrywide got the preferential treatment they sought. Todd Zwillich, Washington correspondent for The Takeaway, dives into that report.


Todd Zwillich

Produced by:

Joe Hernandez and John Light

Comments [1]


Does this explain why we see no prosecutions in the wake of the housing crisis?
Was the pernicious Dodd/Frank regulations a cynical diversionary tactic that took attention away from those men and others while enabling the media to fashion a more flattering narrative of the crisis for the Democratic Party?

Jul. 06 2012 09:10 AM

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