House Democrat received Countrywide loans: report (Bangalore)

Reuters ^ | 8/7/09 | Santosh Nadgir

[Drango]

(Reuters) – A leading Democrat in the House of Representatives who has rebuffed Republican efforts to subpoena records of a mortgage program for favored borrowers at Countrywide Financial Corp got home loans from that lender, the Wall Street Journal reported on Friday.

Representative Edolphus Towns, chairman of the House Oversight and Government Reform Committee, obtained two loans from Countrywide, which was bought last year by Bank of America, the newspaper said, citing information from the lawmaker's mortgage documents.

Towns has turned down calls from the committee's ranking Republican, Darrell Issa, for the panel to subpoena mortgage records showing who received loans through Countrywide's VIP program, the journal said.

~snip

In February, Senate Banking Committee Chairman Chris Dodd, a Democrat, said he would refinance two mortgages that he took out in 2003 under Countrywide's VIP program. (Reporting by Santosh Nadgir in Bangalore, editing by Vicki Allen)

[Drango]

(Reporting by Santosh Nadgir in Bangalore, editing by Vicki Allen)

Bangalore????? It appears the media's death isn't exaggerated....

[bitterohiogunclinger]

“Bangalore????? It appears the media's death isn't exaggerated....”
You have to go that far to find reporters that actually investigate anything that might involve a DemonRAT.
It's not really the MSM’s fault however, all their “investigative” reporters are exhausted from months of turning over trashcans in Alaska. /s

[raybbr]

y

Edolphus “Ed” Towns, a former social worker and community activist in Brooklyn, New York, is a 14-term veteran in the House.He is the current chairman of the Committee on Oversight and Government Reform, whose legislative jurisdiction is over federal procurement, civil service, management and information policy.

Towns represents the 10th Congressional District of New York, encompassing the neighborhoods of East New York, Canarsie, Brownsville, Bedford-Stuyvesant, Cypress Hills, Clinton Hill, Mill Basin, Midwood, downtown Brooklyn, Boreum Hill, as well as parts of Fort Greene and Williamsburg. This area brings together Brooklyn's diverse populace, including black, white, Hispanic, Caribbean, and Jewish residents.

[driftdiver]

The corruption continues, TERM LIMITS NOW

[pointsal]

My goodness! Sure seems like Congressman “Ed” knows a good banker. Nothing like terms for the regular guy. Wonder how this loan fits statistically among the other Countrywide loans in this demographically diverse neighborhood?

[Ghost of Philip Marlowe]

If this were you or me, we’d also be hit with obstruction of justice and interfering with an on-going investigation.

Because he is part of the ruling elite, this scumbag will only get hit with a censure from the ethics committee.

They accused the GOP of the “Culture of Corruption.” That was “projection.”

[org.whodat]

Because he is part of the ruling elite, this scumbag will only get hit with a censure from the ethics committee.

And the charge would be what?? Obtaining a loan ???

[Ghost of Philip Marlowe]

Obstructing the issuing of a subpoena to determine whether there was a bribe/kickback for an elected official.

[Ghost of Philip Marlowe]

“...who has rebuffed Republican efforts to subpoena records of a mortgage program for favored borrowers...”

Maybe you missed that from the lead.

That is journalese that indicates the suspicion of a kickback scheme.

[ProtectOurFreedom]

The chairman of the House Oversight and Government Reform Committee is a corrupt Democrat? Isn't that a surprise? If these people get bought off over something as small as a mortgage, just imagine what will happen when they control of your life and health.

[RoadKingSE]

The corruption continues, TERM LIMITS NOW

Americans have the opportunity every two years to term limit their useless congresspersons.

[ProtectOurFreedom]

Probably not a kickback, but another “Friends of Angelo” loan at extremely favorable rates that ordinary schmoes like us will never get. Just like Dodd got. Dodd did resign over that scandal, didn’t he? Yuk.

[Venturer]

Move-on, Move-on. Nothing to see here just another corrupt politician.Jefferson, Rangel , Towns, Just members of the Congressional Black Criminals sticking together to help their neighbors.

[driftdiver]

“Americans have the opportunity every two years to term limit their useless congresspersons.”

Yes, and we’ve seen how well that works with them gerrymandering and other behind door deals.

[bmwcyle]

[Ghost of Philip Marlowe]

Exactly. While it may not be illegal (though it may be in the private sector) it is unethical. Republicans are thumped out of office for less “corrupt” charges.

However, there was an attempt to serve a subpoena, which indicates that there was suspicion of something more than just a “favor.” We can’t know that sort of thing until the full investigation is carried out after a subpoena is served.

But, once again, it’s a DemocRAT, so the MSM will ignore it and the DNC will point to some GOPer who accidentally let a gum wrapper fall on the ground and shout “CULTURE OF CORRUPTION!!”

[org.whodat]

Did not miss topic, you forgot the little thing called proof.

[org.whodat]

Obstructing the issuing of a subpoena to determine whether there was a bribe/kickback for an elected official.

It's nice to rant, but there is no such charge under the constitution for a setting congress A hole.

[Gargantua]

"...Representative Edolphus Towns..."

Ahh. Edolphus Towns. A fine Irish name...

This sounds like a pal of other members of the Congressional Black Caucus who accused inspectors of "ginning up" non-existent financial problems with Fannie Mae, and insisting there was no need for additional Congressional oversight or regulation back in 2005-2007.

Like all good Liberal Scum, they cloaked their plasticene outrage in terms like "racist" and "fear mongerers." Boy, good thing we let them get away with that stunt, huh?

Just look how that worked out for every single living American.

:-O

[Le Chien Rouge]

“a former social worker and community activist”

With those two items on the congressman’s resume he could NOT get a job as a manager of a 7/11.

Yet, get elected to congress and he’s a chairman for federal procurement, civil service, management and information policy.

Oy Vey!!!