Video: Fannie Mae, Countrywide's mutual backscratching

Color me a little surprised that CBS covered this story this week — and credit it to Rep. Darrell Issa (R-CA), who has doggedly “followed the money” in this scandal for the last two years.  While we knew about the Friends of Angelo program that counted Chris Dodd and others on Capitol Hill among its beneficiaries, the scale of the income involved for Fannie Mae execs and their reach within government is certainly worth a much closer look.  With Barack Obama threatening to undermine the basis for these kinds of shenanigans in the future, will this coverage become a fashion trend now in the American media?  We can only hope:

Over 150 officials at Fannie Mae got preferential treatment by Countrywide. They now claim, like those at the top, that they had no idea that they got conditions preferable to market conditions when Countrywide offered them. Maybe they can make a porn defense