2011 naughtiness costing current lawmakers? We will see.

  Hello friends,

  Time to re-state some old news.  Remember those loans back in 2006-2008 that led to the financial meltdown in America?  They were called "sub-prime", meaning that the folks that got the loans, knowingly couldn't pay them back.  That's it in a nutshell.  There were lots of them.

  Why should it matter then..that recently four lawmakers ( members of our Congress ) were investigated and found to have received "favorable" loans, sub-prime or V.I.P. from the same company that our Government gave a ton of money to in the face of financial collapse?  Is it possible that our Congress is still not willing to follow the laws that we must?  Was it just a lapse in judgement? 

  WE MAY NEVER KNOW.  Here is an excerp from www.chicagodefender.com

WASHINGTON (AP) — Congressional investigators said Monday that four House members received VIP discounted loans from the former Countrywide Financial Corp., the lender whose sub prime mortgages was largely responsible for the nation's foreclosure crisis.

Rep. Darrell Issa, R-Calif., chairman of the House Oversight and Government Reform Committee, declined to name the four but wrote the House Ethics Committee that it should investigate the lawmakers.

( The key word in that last statement is "should" )   Will they investigate?  Doubtful.  I wrote an email to a Senator from my State in regards to this matter.  Again, doubtful I will receive a response.  I am hoping she does, because she is one of 26 Senators seeking re-election this year.

Issa's letter to ethics Chairman Jo Bonner of Alabama and ranking Democrat Linda Sanchez of California said: "Testimony and documents show that Countrywide used the VIP program to build relationships with government officials and others positioned to advance Countrywide's business interests.

"Between January 1996 and June 2008, Countrywide's VIP unit gave discounted loans to employees of the federal government, including the U.S. Congress."

  I'm making my list, and checking it twice, finding out who was naughty and not worthy of re-election.


Have a great day everyone.

Trevor