Taxpayers wanting the whole story of how Countrywide Financial used its VIP loan program to grease politicians and reward its partners at Fannie Mae and Freddie Mac may soon have it. Thanks for this belated act of political hygiene go to House Oversight Committee Chairman Darrell Issa, who Wednesday issued a subpoena to Bank of America, which bought Countrywide during the financial crisis.No word yet on this subject from Nancy Pelosi's son.
By March 7, the bank will need to produce all documents related to the company's VIP program, also known as the "Friends of Angelo" program in honor of former Countrywide CEO Angelo Mozilo.
Wednesday, February 16, 2011
The Countrywide Subpoena
The Wall Street Journal reports: