This past week, most of my blog posts here at AIP have focused on a couple topics: accountability and…

If Jim Johnson wanted cheap loans for himself or his Democrat pals, all he had to do was call Angelo and it was done. We probably will not find any Republicans getting these Friends of Angelo loans because Jim Johnson and his successor, Frank Raines, only traveled with Democrats. It’s doubtful that Fannie under the leadership of Johnson or Raines would have bought any below-market loans to Republicans.

As I said when the Johnson story broke, there is a treasure trove here for Republicans if they will just dig a little. The biggest “culture of corruption” in Washington in the last 15 years was Fannie Mae buying half of the Democratic Caucus.

“While CEO Of Fannie Mae, Johnson And Mozilo Worked Closely And Maintained A “Close Friendship.” “From 1991 to 1998, Mr. Johnson served as CEO of the Federal National Mortgage Association, also known as Fannie Mae, which worked closely with Countrywide, one of the nation’s leading lenders and loan servicing companies. In 1996, Mr. Johnson named Mr. Mozilo as chairman of Fannie Mae’s national advisory council. A 1999 article in the American Banker said the two men had a ‘close friendship.’” NRO

In my part of town, when someone influences a decision-maker like Jim Johnson by providing services at a preferential rate while that person has the ability to substantively improve my wealth – we call that a bribe.

Fannie Mae periodically would create attractive loan programs that would be made available to just a handful of lenders nationwide. Borrowers could access those loans only through those hand picked lenders. Hmmm. Wonder how Countrywide kept getting on that list.

THAT is why this is significant. How many more times are we willing to hear Obama’s excuses about the kind of advisors he surrounds himself with? Old time Chicago politician. And a leftist, too. A dream candidate for the Presidency.

The House passed a large anti-predatory lending bill last December. Mysteriously, the Senate Banking Committee has not even held a markup of similar legislation. Even Democrats on the Committee have been fuming about Chris Dodd dragging his feet on this. Guess we know why! Instead, Dodd has chosen to throw brickbats at the Fed for “failing to adequately regulate” subprime lending.

Meanwhile, Chuck Schumer has been on a jihad against Countrywide for over a year. Bet he was thrilled to read this story today!

The CHAIRMAN of the Senate Banking Committee reportedly received favorable loans from a corporation that has affairs before the Senate Banking Committee.

Senator Dodd’s office is now denying they knew anything about the VIP or “FOA”(Friends of Angelo) treatment.

PS: Conde Nast and its employees are the rightest rightiest right wingers evar.

Speaking of Congressmen and Senators getting special subsidized everything. Senator Conrad borrowed $1.07 million in 2004 to refinance his vacation home with a balcony and wraparound porch in Bethany Beach, Delaware, a block from the ocean. Mozilo inst…

a little-known program

LOL, yeah, it’s called the “graft” program.

This has turned from a housing crisis to a congressional scandle

front page NYT..Washington Post..

The Bush administration gets zinged here with Alphonso Jackson, who already resigned under an ethical cloud.

I expect that any mention of this story by the MSM will be led by the Bush Adm ties – the true culprits.