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Sweetheart loans

11/05/09 18:53

Financial companies have a tendency to put their tentacles into the framework of the government. They move on influential politicians especially in areas, such as congressional committees or up-coming stars in the political radar screen, to offer "special" loans and mortgages, etc. Countrywide Financial was such a shrewd business. They had a group of special cutomers called "friends of Angelo", in reference to their CEO. Sound familiar? Well, thatīs the way it goes. The reults: several congressmen are under investigation. The House Financial Services Committee, that oversees Countrywide, was a mayor target for those "tentacles".

Link: D.C. Power Players Get Sweetheart Loans - CBS Evening N

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