Posted on 09/28/2009 11:56:00 AM PDT by NormsRevenge
The revelation that Countrywide Financial recorded phone conversations as part of a specialized "VIP" mortgage loan program has added another twist to a Republican-led inquiry on Capitol Hill.
Republican Rep. Darrell Issa, who has aggressively pursued the now-defunct Countrywide program for much of this year, said Monday that a call-recording system put in place as early as 2003 could contain evidence of wrongdoing by prominent public officials.
He requested a raft of new information about the program and the taping system from Bank of America, which purchased Countrywide in July 2008 as it struggled with mounting losses amid the collapse of the housing market.
The Wall Street Journal reported the existence of the taping, and that the recordings had been destroyed, on Sunday night.
The program became a lightning rod for controversy when it was revealed that two prominent senators, Budget Committee Chairman Kent Conrad, D-N.D., and Banking Chairman Christopher J. Dodd, D-Conn., received loans through the program.
Conrad and Dodd have denied any wrongdoing and were cleared by the Senate Ethics Committee on Aug. 7.
But Issa -- the top Republican on the House Oversight and Government Reform Committee --said the existence of the recording system has given new legs to his efforts.
"Access to this archive could provide definitive evidence about whether or not it was the practice of VIP account executives to inform VIP borrowers of their status," Issa wrote in a letter to Kenneth D. Lewis, Bank of America's chief executive.
(Excerpt) Read more at news.yahoo.com ...
Demand the information?
Or this will go nowhere ...
If Dodd had only stuck to waitress sandwiches, he wouldn’t have any problems. But noooooo! He had to look to Contrywide for his sweethearts.
fixed it.
You can’t just blame the Dems here. The pubbies on the committee also went along with the charade by completely ignoring sworn testimony that Dodd knew he was getting special treatment.
Yes! Chris “Countrywide” Dodd can still be brought down.
Phone Calls Add to Din Over Loans
**************************EXCERPT Subscription only**************************
The discovery that Countrywide Financial Corp. recorded phone conversations with borrowers in a controversial mortgage program that included public officials -- and that those recordings have been destroyed -- has prompted new congressional calls for more information about the program.
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.