Again, I'm shocked!
Countrywide Mortgage Co gave 'under the table' low interest loans to members of Congress to influence legislation during the Bush years.
The report said Fannie assigned as many as 70 lobbyists to the Financial Services Committee while it considered legislation to reform the company from 2000 to 2005. Four reform bills were introduced in the House during the period, and none made it out of the committee.
Guess what the results were, when none of the 'reform' bills passed? Yup, we're living with it, and will be for a LONG time, as this was the beginning and main cause of our economic crash.
The report said Fannie assigned as many as 70 lobbyists to the Financial Services Committee while it considered legislation to reform the company from 2000 to 2005. Four reform bills were introduced in the House during the period, and none made it out of the committee.
Guess what the results were, when none of the 'reform' bills passed? Yup, we're living with it, and will be for a LONG time, as this was the beginning and main cause of our economic crash.
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