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Line 29: − + − hold subprime mortgages originated by Countrywide. Countrywide also lobbied against predatory lending bills...several Members of Congress and congressional staff positioned to affect the legislation received VIP loans. In fact, Countrywide lobbyists – and CEO Angelo Mozilo himself – referred several Members and staff from the Senate Committee on Banking and the House Committee on Financial Services to the VIP unit. Those are the committees of primary [[jurisdiction]] for consideration of legislation related to the mortgage industry and the GSEs. Countrywide’s VIP unit processed loans for key Senators and Senate staff who could be helpful when legislation that affected the company was drafted or up for a vote. Countrywide gave VIP loans to former Senate Banking Committee Chairman Christopher Dodd; Senate Budget Committee Chairman [[Kent Conrad]]; and Mary Jane Collipriest, Communications Director for former Senator Robert Bennett, who served on the Banking Committee. Dodd referred Collipriest to the VIP unit....Fannie Mae’s targeted lobbying campaign supplemented Countrywide’s outreach to Committee Members and staff. The GSE assigned as many as 70 lobbyists to the Financial Services Committee while it considered GSE reform legislation in 2000 – 2005....During the 108th Congress, four GSE reform bills were introduced in the House. None made it out of the Financial Services Committee. Countrywide also had favorable relationships with key decision makers in the [[Executive Branch]]. Two former Secretaries of Housing and Urban Development received VIP loans – [[Alphonso Jackson]] and [[Henry Cisneros]]. The VIP unit processed Cisneros’s − loan after he joined the company’s Board of Directors. Jim Johnson referred formerSecretary of Health and Human Services [[Donna Shalala]] to the VIP unit.<ref> Dodd obtained special favors from Countrywide Mortgage lending,<ref>[http://money.cnn.com/2012/07/05/real_estate/countrywide-mortgage/index.htm Countrywide issued hundreds of VIP loans to buy influence,] By Les Christie and Rebecca Stewart, CNN, July 5, 2012.</ref> the single largest subprime mortgage lending institution in the United States and which immensely contributed to the [[Financial crisis of 2008]], the [[Recession of 2008]], and the ongoing global financial meltdown.<ref>No, George W, Bush did not do it. </ref> According to and unsourced statement in Wikipedia, Countrywide financed 20% of all mortgages in the United States, at a value of about 3.5% of United States [[GDP]].
→Political Career
In the 1980s Senator Dodd took the lead in the liberal opposition to President [[Ronald Reagan]]'s anti-Communist policy in Central America. He has long opposed the nation's embargo on the Communist [[Cuba]] of [[Fidel Castro]].
In the 1980s Senator Dodd took the lead in the liberal opposition to President [[Ronald Reagan]]'s anti-Communist policy in Central America. He has long opposed the nation's embargo on the Communist [[Cuba]] of [[Fidel Castro]].
In the [[Clinton]] era Dodd served as Chairman of the [[Democratic party|Democratic National Committee]], its chief fundraiser.<ref>[http://www.ctmirror.org/story/16835/report-details-dodd%E2%80%99s-countrywide-deal Report details Dodd’s Countrywide deal], By Ana Radelat, Connecticut Mirror, July 5, 2012. Dodd was at the time Chairman of the [[wp:Democratic National Committee]].</ref> It was at this time while serving as Chair and on the Senate Banking Committee,<ref>In 1999, Countrywide reached an exclusive agreement to sell [[Fannie Mae]] billions of dollars in mortgages at a discounted rate. The agreement led to a period of codependence and mutual growth. ...Between January 1996 and June 2008, Countrywide’s VIP loan unit made hundreds of loans to current and former Members of Congress, congressional staff, high- ranking government officials...Fannie Mae and Countrywide lobbied against government-sponsored enterprise (GSE) reform legislation that would have diminished Fannie Mae’s ability to acquire and
In the [[Clinton]] era Dodd served as Chairman of the [[Democratic party|Democratic National Committee]], its chief fundraiser.<ref>[http://www.ctmirror.org/story/16835/report-details-dodd%E2%80%99s-countrywide-deal Report details Dodd’s Countrywide deal], By Ana Radelat, Connecticut Mirror, July 5, 2012. Dodd was at the time Chairman of the Democratic National Committee.</ref> It was at this time while serving as Chair and on the Senate Banking Committee, Dodd obtained special favors from Countrywide Mortgage lending,<ref>[http://money.cnn.com/2012/07/05/real_estate/countrywide-mortgage/index.htm Countrywide issued hundreds of VIP loans to buy influence,] By Les Christie and Rebecca Stewart, CNN, July 5, 2012.</ref> the single largest subprime mortgage lending institution in the United States and which immensely contributed to the [[Financial crisis of 2008]], the [[Recession of 2008]], and the ongoing global financial meltdown.<ref>No, George W, Bush did not do it. </ref> According to and unsourced statement in Wikipedia, Countrywide financed 20% of all mortgages in the United States, at a value of about 3.5% of United States [[GDP]].
== Ethics Issues ==
== Ethics Issues ==