The chairman of the House Oversight and Government Reform Committee, Edolphus Towns apparently received two special home loans from Countrywide. Republican Darrell Issa has been trying to get the committee to subpoena records showing who received VIP loans from the lender. Edolphus Towns has been blocking that effort.

Edolphus Towns  official 109th Congress photo




Edolphus Towns


A spokesman for Rep. Edolphus Towns said that if his mortgages came through the VIP program it “came without his knowledge”. Isn’t that what they all say? No matter what the issue, they always say they didn’t know anything about it. If that’s the case, we have the most ignorant group of lawmakers in history; from the Speaker of the House on down. From the WSJ:

The spokeswoman for Mr. Towns, a 26-year congressional veteran, said his decision not to subpoena the VIP records “has nothing to do with his mortgages.” If the mortgages came through the VIP program, “it was without his knowledge,” and he doesn’t believe he received any special benefits from Countrywide, she said. “As far as he knew, he was just getting a loan as a regular person.”

There are currently criminal and ethics investigations taking place concerning the deals at Countrywide. Senator Chris Dodd and Senator Kent Conrad are being investigated by the Senate ethics panel to determine their role in the sweet deals they received which of course they knew nothing about.

Countrywide’s VIP program, which gave preference to those with political influence and others, was known as the “Friends of Angelo” program named for Countrywide founder Angelo Mozilo. Edolphus Towns was not a committee chairman when he received his loans back in 2003.

The bad thing about the current “government” investigations into Countrywide is that it’s essentially government investigating themselves. How can we possibly trust what they will find? Countrywide was a huge part of the housing crisis; Dodd and Conrad knew it, Edolphus Towns knew it. They should have come clean in the beginning about their involvement with Countrywide. There would definitely be less suspicion in that case. Now they all look guilty of something even if they’re not.

Rep. Edolphus Towns appears guilty of wrongdoing, even if he’s not just simply by blocking Rep. Issa’s request for subpoenas. I can still hear Pelosi yapping about the Republican “culture of corruption” can’t you? This is only the tip of the iceberg.





Countrywide corruption