The House's Ethics Committee has ended its probe of allegations former Countrywide (BAC) CEO...

The House's Ethics Committee has ended its probe of allegations former Countrywide (BAC) CEO Angelo Mozilo made preferential loans to Congressmen and their staffers through his "Friends of Angelo" program and other initiatives. Though still calling the allegations "serious matters," the committee says they're largely outside of its jurisdiction, due to their age and the current status of the loan recipients.

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Comments (14)
  • realitybiter
    , contributor
    Comments (227) | Send Message
    If you bank with a large multi-national bank you should seriously ask why.
    You must change.


    They typically charge outrageous fees for simple, inexpensive banking tasks. They generally pay the lowest interest rates. They have been caught laundering hundreds of billions of dollars for the Mexican Drug Cartel. They were the architects of the mortgage fraud.....and the consequence? Nothing. No time, no criminal charges, a fee and it is all good.
    You support this with your business.
    The government gives them money at zero interest rate so they can lend it to you.
    How about some consequence? Quit complaining about the neutered DOJ and grow a pair locally.
    28 Dec 2012, 12:57 PM Reply Like
  • MrWittyOne
    , contributor
    Comments (68) | Send Message
    Sorry Realitybiter, banks are not the architects of the mortgage fraud. Banks service loans which means they collect payments. If you want to blame an entity and there's plenty to go around, you can start with the appraisers who were doing drive-by appraisals and valuing houses way more than they should. You can also blame brokers and underwriters for not fulfilling their obligations in verifying incomes and credit checks.
    28 Dec 2012, 01:38 PM Reply Like
  • kthor
    , contributor
    Comments (251) | Send Message
    "They generally pay the lowest interest rates"


    I bank to make payments to my property, wife and kids shopping, etc if i want to make money, I buy stocks/options ...putting $$ with the banks just simplify my payment methods and I never intend to make money off that interest payment they have..


    and what made you think the local banks are more honest than the too big to fail banks?
    28 Dec 2012, 02:52 PM Reply Like
  • shelbyman
    , contributor
    Comments (40) | Send Message
    Your comment shows how little you know about the process.
    29 Dec 2012, 10:02 AM Reply Like
  • realitybiter
    , contributor
    Comments (227) | Send Message
    you people fail to get my point.


    The entire political structure is controlled by big banks. Do some research on the finance committee and who gets what.


    The bailout, which was orchestrated by the banks, through the political process, controlled by the banker paid lobbyist is now estimated to have added somewhere around $13 TRILLION. You are now being asked to pay for it and you will with higher taxes.


    YOU are complicit in hundreds of billions of dollars that have been laundered for drugs (google banks drug laundering - this is not conspiracy theory this is fact), laundering money for Iran (I am told by the DHS that this is treason - guess not by the DOJ's dull teeth), mortgage fraud? Cui Bono? homeowner? no. longterm stockholder? (check on Citi lately? BAC?)


    You people deserve the disaster that you support. Enjoy BO jacking your taxes up next year, simply so you can get Angelo Mozillo's face a little darker.


    LOCAL banks don't launder, they don't have a prop trading desk. Read the bankruptcy laws. You people will get nothing when one of these big banks Corzines you.
    29 Dec 2012, 02:36 PM Reply Like
  • Tony Petroski
    , contributor
    Comments (6356) | Send Message
    At least the investigation was prompt. Only 5 years after the event.


    Meantime, Kahlid Sheik Mohammed, mastermind of 9/11 awaits trial. Rumor is that he needed 12 years to regrow his beard so he'll be presentable in court.


    And Dodd and Frank remain at large--Dodd bundling Hollywood money to finance his partisans and Frank telling us he's tired after 88 years in the House and eyeing a run at the Senate.


    As that famous Republican told us in song: "The beat goes on, the beat goes on..."
    28 Dec 2012, 12:57 PM Reply Like
  • minecanary
    , contributor
    Comments (1234) | Send Message
    We should just put bars on the windows and lock up every one of those lying scumbags.
    28 Dec 2012, 01:01 PM Reply Like
  • jackooo
    , contributor
    Comments (1738) | Send Message
    "House's Ethics Committee"... oxymoron to me.
    28 Dec 2012, 01:08 PM Reply Like
  • shelbyman
    , contributor
    Comments (40) | Send Message
    Right that is really funnnnny!!!! Nothing like having the fox guard the hen house!!
    28 Dec 2012, 01:14 PM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
    It just puts another nail in their coffin...and credibility they might have had loses another notch...its not the rich 2%....its them..the politicians vs US...
    28 Dec 2012, 01:11 PM Reply Like
    , contributor
    Comments (58) | Send Message
    Welcome to the land where no one in power or with $$ goes to jail. See GS, C, HBSC, AIG and the list goes on-
    28 Dec 2012, 01:46 PM Reply Like
  • MexCom
    , contributor
    Comments (3069) | Send Message
    Good news. This is another indication that the litigation claims are coming to an end.
    28 Dec 2012, 02:20 PM Reply Like
  • vicg
    , contributor
    Comment (1) | Send Message
    Are you kidding, no wrong doing. A great lesson for the next generation, just don't get caught.
    28 Dec 2012, 04:11 PM Reply Like
    , contributor
    Comments (58) | Send Message
    If you would like to know more than you can stomach about the the 2007-8 financial fraud and its effects on government, society and disparity between wealthy and middle class pick up PREDATOR NATION by Charles Ferguson. You might not feel the same about investing ever again.
    30 Dec 2012, 05:26 AM Reply Like
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