October 26, 2009

CHRIS DODD UPDATE: The Countrywide Files: A revolt forces Ed Towns to subpoena the ‘Friends of Angelo’ documents. “As the largest subprime lender and valued partner of Fannie Mae and Freddie Mac, Countrywide was at the core of the mortgage meltdown. The political class wants to blame the mania and panic on the bankers, but the bankers couldn’t have made the subprime lending mess without plenty of political help from Congress. To ensure that this disaster is never repeated, it is critical that Congress uncovers the facts about the extraordinary efforts by Countrywide and Fannie and Freddie to influence federal housing policy.”

But, of course, the phone records are “lost.”

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