Wotka World Wide

Sunday, October 18, 2009

Why are Democrats blocking an investigation of the Countrywide/Mozilo influence peddling scheme? Maybe because there are many guilty of getting preferential loan treatment. More from the Washington Times:

While some have attempted to characterize our efforts to uncover the true scope and depth of this pay-for-play program as a partisan attack targeting specific members of Congress, it should be noted that Republicans controlled both Congress and the White House at the height of the Countrywide VIP program's influence.

It stands to reason, therefore, that more Republicans than Democrats could have been the beneficiaries of Mr. Mozilo's special treatment. The undisputed fact remains: We know there was corruption. We know Countrywide's intent was to influence decision-makers to pursue policies that favored Countrywide's portfolio.

Yet congressional Democrats seem afraid to move forward with the investigation into a bribery scandal that contributed to the housing crisis and the financial collapse.

A variety of excuses have been offered for Congress' failure to launch a full-scale probe into the Friends of Angelo program. At first, it was argued that deference was needed for the Senate Ethics Committee to conclude an investigation into the conduct of two senators.

Then speculation concerning a Justice Department investigation was cited to trump congressional oversight. Never mind the fact that Democrats and Republicans in Congress had worked together to investigate the Jack Abramoff scandal, even though the Justice Department continues to prosecute actions connected to this wrongdoing to the present day.

There are dirty rats on both sides of the aisle, that is for sure.


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