|
— |
Raines Was Offered 4.1% Countrywide Loan in 2003 Former Fannie Mae Chief Executive Officer Franklin Raines was offered a 4.125 percent mortgage from Countrywide Financial Corp. in 2003, more than a percentage point less than the national average at the time, according to documents provided by a congressional committee. ‘Friends of Angelo’ Raines, Senate Banking Chairman Christopher Dodd and Senate Budget Chairman Kent Conrad were among prominent Americans accused of receiving favorable treatment on loans from Countrywide CEO Angelo Mozilo. Dodd, a Connecticut Democrat, said Feb. 2 that he is refinancing two mortgages he received in 2003 under Countrywide’s “VIP” program. On both loans, someone at Countrywide scrawled “FOA” on documents. FOA refers to “Friends of Angelo.” Conrad, a North Dakota Democrat, in June said he was given preferential treatment on a mortgage from Countrywide. Raines told lawmakers in December that he was “unaware of any preferential treatment” he received from Countrywide. On 8 March 2008, the FBI began a probe of Countrywide for possible fraudulent lending practices, securities fraud. |
Billets Similaires: Fiasco réglementaire_Quand l’État réglemente (VII)_Quand l’État réglemente (VI)_Quand l’État réglemente (VIII)_Quand l’État réglemente (V)_
Ce billet est classé: Économie, États-Unis, Politique, Récession, Revue de presse, Société. Vous pouvez suivre la discussion de ce billet en vous abonnant au fil RSS 2.0, laisser un commentaire, ou faire un trackback depuis votre site.
FOREST GUMP EXPLAIN THE BAILOUT.
From the wise lips of Forrest Gump:
Mortgage Backed Securities are like boxes of chocolates. Criminals on Wall
Street stole a few chocolates from the boxes and replaced them with turds. Their
criminal buddies at Standard & Poor rated these boxes AAA Investment Grade
chocolates. These boxes were then sold all over the world to investors.
Eventually somebody bites into a turd and discovers the crime. Suddenly nobody
trusts American chocolates anymore worldwide.
Hank Paulson now wants the American taxpayers to buy up and hold all these
boxes of turd-infested chocolates for $700 billion dollars until the market for
turds returns to normal. Meanwhile, Hank’s buddies, the Wall Street criminals
who stole all the good chocolates are not being investigated, arrested or
indicted.
Mama always said: “Sniff the chocolates first, Forrest.”
Étrangement, les médias du Québec ont très peu parlé des « Friends of Angelo ».
Au Québec c’est plus vendeur de démoniser le capitalisme que de parler de l’implication de l’état dans la crise.