Senators Chris Dodd and Kent Conrad lawyered up when the Senate ethics committee asked about their VIP loans from Countrywide Financial. But the sweetheart Senators may not be able to stop another look at their dealings with the subprime mortgage factory. A Democrat on the House oversight committee, Illinois freshman Mike Quigley, tells us that he supports a subpoena to obtain documents on the “Friends of Angelo” loan program.

Named for former Countrywide CEO Angelo Mozilo, the program was used to curry influence with government officials. Bank of America, which bought the failed lender last year, has said it’s ready to turn over the files as soon as it receives a subpoena.


The aim is to find out the extent and impact of Countrywide’s efforts to influence federal housing policy. This goes to the heart of the financial crisis. Countrywide was the largest originator of subprime loans and provided billions of dollars of mortgages to Fannie Mae and Freddie Mac, at huge cost to taxpayers.

via The Countrywide Vote –

And don’t forget about this.