Report: Lawmakers, Top Officials Knowingly Received VIP Loans From Countrywide

By: Thursday July 5, 2012 2:19 pm

The House Oversight and Government Reform Committee, Darrell Issa’s perch, has released a new report on the practice of now-defunct mortgage lender Countrywide handing out special mortgages at low rates to members of Congress and other key officials through their “VIP” program. And it does not appear to pick sides or divvy up the information to protect one party or the other.

 

FDL Book Salon Welcomes Gretchen Morgenson and Joshua Rosner, Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon

By: Saturday August 20, 2011 1:59 pm

Reckless Endangerment describes the players that helped create the housing bubble and bust that were at the heart of the financial crisis. Gretchen Morgenson and Josh Rosner focus on how regulators and other officials were complicit by promoting liberalized housing finance as a way to increase homeownership. Their account chronicles how a naïve vision of the American Dream, that of homeownership as the foundation of upward mobility and stable communities, turned into a nightmare in the hands of a growth driven and increasingly predatory mortgage complex.

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