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词条 Countrywide Financial political loan scandal
释义

  1. See also

  2. References

The Countrywide financial political loan scandal in 2008-2009 involved U.S. politicians who allegedly received favorable mortgage rates.

In June 2008 Conde Nast Portfolio reported that numerous Washington, DC politicians over recent years had received mortgage financing at noncompetitive rates at Countrywide Financial because the corporation placed the officeholders in a program called "FOA's"--"Friends of Angelo", Countrywide's Chief Executive Angelo Mozilo. The politicians extended such favorable financing included the chairman of the Senate Banking Committee, Christopher Dodd (D-CT), and the chairman of the Senate Budget Committee, Kent Conrad (D-ND). The article also noted Countrywide's political action committee had made large donations to Dodd's campaign.[1] The largest recipient of campaign contributions from Countrywide, though, was Rep. Ed Royce (R-CA), House Financial Services Committee), who has received $37,500 since 1989.[2] Dodd has advocated that the federal government, through the Federal Housing Administration, insure up to $300 billion in refinanced mortgages for distressed homeowners.[3]

It was reported by the Wall Street Journal on 6 June 2008 that 2 former CEOs of Fannie Mae, Franklin Raines and James A. Johnson, who was also an adviser to then-Democratic presidential candidate Barack Obama, had received loans from Countrywide.[4] On July 16, 2008, The Washington Post reported that Franklin Raines had "taken calls from Barack Obama's presidential campaign seeking his advice on mortgage and housing policy matters."[5] However, Raines and the Obama campaign both allege that Raines has never advised Obama.[6] See Raines and Obama.

On 18 June 2008, a Congressional ethics panel started examining allegations that Democratic Senators Christopher Dodd of Connecticut (the sponsor of a major $300 billion housing rescue bill) and Kent Conrad of North Dakota received preferential loans by troubled mortgage lender Countrywide Financial Corp.[7]

Dodd has faced criticism for his role in this scandal from Connecticut's largest newspaper, the Hartford Courant[8] as well as from the Connecticut Republican party.[9] Citizens Against Government Waste (CAGW) named Dodd its June 2008 "Porker of the Month" for accepting a preferential mortgage deal from Countrywide Financial which stands to benefit from a mortgage bill he is pushing through Congress.[10]

On January 6, 2010, Dodd announced that he would not run for re-election.[11]

On January 18, 2011, Conrad announced that he would not run for re-election in 2012, but would retire.[12]

See also

  • Friends of Angelo program

References

1. ^Countrywide's Many 'Friends' Conde Nast Portfolio, 12 June 2008
2. ^Countrywide's Campaign Contributions Weren't Loans, But They Were Investments OpenSecrets.org, 18 June 2008
3. ^http://banking.senate.gov/public/_files/HousingandEconomicRecoveryActSummary.pdf
4. ^{{cite web|last=Simpson |first=Glenn R.| authorlink=Glenn R. Simpson |url=https://www.wsj.com/articles/SB121279970984353933?loc=interstitialskip |title=Countrywide Friends Got Good Loans - WSJ.com |publisher=Online.wsj.com |date=2008-06-07 |accessdate=2010-02-27}}
5. ^{{cite news|url=https://www.washingtonpost.com/wp-dyn/content/article/2008/07/15/AR2008071502827.html?sid=ST2008071503047&s_pos |title=On the Outside Now, Watching Fannie Falter |publisher=washingtonpost.com |date= 2008-07-16|accessdate=2010-02-27 | first=Anita | last=Huslin}}
6. ^{{cite web|url=http://www.politico.com/blogs/bensmith/0908/Obama_denies_Raines_ties_accuses_McCain_of_throwing_stones_from_his_seven_glass_houses.html?showall |title=Politico.com |publisher=Politico.com |date= |accessdate=2010-02-27}}
7. ^{{cite web|author=John Poirier |url=https://www.reuters.com/article/politicsNews/idUSWAT00970120080619 |title=Ethics panel examines lawmakers' Countrywide loans | Politics |publisher=Reuters |date=2008-06-19 |accessdate=2010-02-27}}
8. ^{{cite web|url=http://www.courant.com/news/opinion/editorials/hc-dodd.artjun22,0,6244753.story |title=Sen. Dodd's Negligence |publisher=Courant.com |date= |accessdate=2010-02-27}}
9. ^{{cite web|url=http://www.everydayrepublican.com/2008/06/22/courant-finally-dings-dodd/ |title=Courant Finally Dings Dodd |publisher=The Everyday Republican |date=2008-06-22 |accessdate=2010-02-27}}
10. ^{{cite web|url=http://www.cagw.org/site/PageServer?pagename=news_porkerofthemonth |title=Citizens Against Government Waste: porkerofthemonth |publisher=Cagw.org |date= |accessdate=2010-02-27 |deadurl=yes |archiveurl=https://web.archive.org/web/20091111183949/http://www.cagw.org/site/PageServer?pagename=news_porkerofthemonth |archivedate=November 11, 2009 }}
11. ^{{cite news |title=For critics and supporters alike, Dodd a master of the Senate|work=Danbury News Times|date=January 6, 2010 |url=http://www.newstimes.com/news/article/For-critics-and-supporters-alike-Dodd-a-master-311560.php |accessdate=January 6, 2010 }}
12. ^[https://www.npr.org/blogs/thetwo-way/2011/01/18/133018456/sen-conrad-d-n-d-wont-run-in-2012 Sen. Conrad (D-N.D.) Won't Run in 2012]

11 : Subprime mortgage lenders|United States housing bubble|Congressional scandals|Political scandals in the United States|Political controversies in the United States|2008 in the United States|2009 in the United States|2008 scandals|2009 scandals|Chris Dodd|Bank of America

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