Countrywide gave VIP loans to Senate staffers also

[Liberal_in_LA]

GOP lawmaker: VIP loans given to Senate staff too
By LARRY MARGASAK, Associated Press Writer

A Republican lawmaker says documents show more senators and staff members than previously known received sweetheart mortgages from the former Countrywide Financial Corp., based on their perceived ability to help the company.

Rep. Darrell Issa, R-Calif., said after reviewing Countrywide loan documents that the former lender's VIP mortgage program was not limited to the two senators whose discounted loans were well publicized: Chris Dodd, D-Conn. and Kent Conrad, D-N.D.

"Several unidentified senators and Senate employees received benefits through Countrywide's VIP program," Issa wrote the Senate ethics committee this week. The lender was looking for officials "positioned to advance Countrywide's business interests," Issa said.

The ethics committee a year ago scolded both Dodd and Conrad for not being more careful to avoid the appearance of favoritism from Countrywide. The committee cleared both senators of any rules violations. Dodd is not running for re-election.

Issa, who did not give details of discounted loans to House members and their staffs, said at least 30 loans processed by Countrywide's VIP unit apparently went to Senate staff — 12 to the office of Sen. Robert Bennett, a Utah Republican who lost his re-election bid when his state party convention rejected him as a candidate.


Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2010/07/15/financial/f085512D97.DTL&tsp=1#ixzz0tmVdiefI

[Donnachaidh]

1. Didn't Chris Dodd get a sweetheart deal from Countrywide?

The *architect* of this financial reform fiasco.