Sack o shit needs some prison time
Posted on 09/25/2008 2:34:06 AM PDT by Renkluaf
Countrywide Financial Corp., the biggest U.S. mortgage lender, made large, previously undisclosed home loans to two additional executives of Fannie Mae, the government-chartered firm at the center of the U.S. credit crisis.
One of Countrywide's previously undisclosed customers at Fannie was Jamie Gorelick, an influential Democratic Party figure whose $960,000 mortgage refinancing in 2003 was handled through a program reserved for influential figures and friends of Countrywide's chief executive at the time, Angelo Mozilo. Ms. Gorelick was Fannie Mae's vice chairman at the time.
Another Countrywide client was recently ousted Fannie Mae Chief Executive Daniel Mudd, though it isn't clear whether he received special treatment on two $3 million mortgage refinancings he made when he was the company's chief operating officer.
In an interview, Ms. Gorelick said she had no knowledge of receiving special treatment. A financial adviser to Mr. Mudd said he received interest rates in line with the prevailing market.
(Excerpt) Read more at online.wsj.com ...
There’s a special place in hell for Gorelick.
“I know 100% she went through the VIP department,” Mr Feinberg said, adding that VIP clients such as Ms. Gorelick typically received a one percentage point reduction in their interest rate.
Real estate records show that Ms. Gorelick received nearly the same interest rate that Countrywide provided to then-Fannie chief Franklin Raines, who received a similar loan about 40 days before Ms. Gorelick in the spring of 2003.
Mr. Raines received a rate of 5.125% for the first 10 years on a $982,253 refinancing, Washington, D.C., real-estate records show.
A little over a month later, Ms. Gorelick received a rate of 5% for the first 10 years on a $960,149 refinancing. The transaction was handled by another employee who sat next to him, Mr. Feinberg said. The average market rate for loans of the type obtained by Ms. Gorelick and Mr. Raines fluctuated around 6% at that time, according to data from HSH Associates Inc., potentially saving the two borrowers thousands of dollars over the life of the loans.
Ms. Gorelick acknowledged she may have dealt with the Countrywide employee in California who handled the so-called Friends of Angelo loans, but said she believed she only received expeditious service. “You’d think if somebody was trying to do me a favor, they would tell me they were doing me a favor, and I am unaware of any such treatment,” she said, adding that she was planning to leave her position as vice-chairman of Fannie Mae at that time.
“When I did this transaction, I was decidedly a has-been,” she said. “I had no favor to give.”
.
ME
I would demand VIP treatment if I were a current customer
Corrupt rat bastard thieving Democrats!
The Republican blame lies in not reining Wall St pirates and scum with their CDOs, credit default swaps and derivatives. I’d love to know who mega-stooge Chris Cox takes orders from
FannieMae/FreddyMac mess is 100% Democrat
Place in hell for Gorelick? You bet — the Gorelick Wall[which enabled 9-11-01] is probably the reason that the Left saw fit to grease her palm. So this is the kind of sleaze that the rats put on the 9-11 Blue Ribbon Panel? I’m ‘impressed’.
Worth repeating.
Just seeing a photo of this wise guy raises my blood pressure. The consummate insider ripping off Fannie Mae. Not to mention her hobbling of our intelligence agencies pre-911 and her then serving on the 911 commission
The media is nowhere to be found on all this
Yes! Other robbers and thieves would be investigated. Is this legal protection the reason so many people want to be in government? They do what they want and will never be brought to justice. The American people need the relief that justice can bring. It is shenanagins against the “people” which so often provokes civil unrest if not outright war against authorities. Not to investigate this thoroughly regardless of who is involved is a travesty against everything America is supposed to stand for.
Mudd, son of Roger Muud BTW, made a fawning speech toward the NAA-L-CP [L for Liberal] for being the conscience of Fannie Mai. Golly. What an accidental insult he gave them.
[Rush Limbaugh ran the speech recently on his show.]
She makes Satan smile.
Jamie Gorelick should be in PRISON for her role in Fannie Mae....Franklin Raines also!!
In the firast year of law school one of the required courses is "Legal Ethics".
She must have slept through that one.
***Jamie Gorelick should be in PRISON for her role in Fannie Mae....Franklin Raines also!!***
Yes, but FIRST she should be in jail for her role as #2 in the Dept. of Justice, under Clinton. It was she who raised the WALL between the FBI and the CIA which prevented them from exchanging information about the perps of the FIRST attack on the World Trade Center.
Bush repaired the damage shortly after 9/11, but the Dems have been fighting the FISA law ever since.
Jamie Gorelick has an impressive record of disasters. Its remarkable really. I’d hate to share a taxi with her. The car would get hit by an astroid and she’d walk away unscathed.
I should add to my post #15 that Gorelick earned over $26 million in her six years at Fanny Mae. Why? Because of her work for Clinton in the Dept. of Justice.
She's lying, again.
You know darn well she knew what kind of deal she got. That's why she used Countrywide.
They should all go to jail. (she should have already been in there for all the corruption she caused)
And it was the Clinton administration that mismanaged the quasi-governmental agencies that over the decades have come to manage the real estate market in America.
As soon as Clinton crony Franklin Delano Raines took the helm in 1999 at Fannie Mae, for example, he used it as his personal piggy bank, looting it for a total of almost $100 million in compensation by the time he left in early 2005 under an ethical cloud.
Other Clinton cronies, including Janet Reno aide Jamie Gorelick, padded their pockets to the tune of another $75 million.
I Imagine if the CIA had shared the information, the CIA and FBI personnel would be in jail right now.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.