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Did Countrywide issue VIP loans to members of Congress?

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    Rep. Jason Chaffetz investigates reports

  • Duration 5:10
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On failed mortgage company countrywide.

Making hundreds of discount loans to lawmakers and their staff to try to.

Buy influence with congress countrywide you remember was an aggressive promoter of the kind of sub prime loans that helped trigger the nation's foreclosure crisis the lawmakers allegedly.

On their VIP list come from both sides of the aisle including.

Senate budget committee chair Democrat Kent Conrad house armed service committee chair Republican but the -- and joining us now Republican congressman Jason -- -- -- you talk.

Member of the house oversight and Government Reform Committee that issued that report this morning.

And congressman so good to talk to you what was countrywide up to.

They were trying to -- some influence and they were using a product that members of congress and the congressional staff wanted to needed.

That is they were offering loans under what's called the friends of Angelo program that was sort of the internal working name of this.

Where they would offer loans and do so without points without fees in -- discounted -- manner something that the public couldn't get.

But that was offered to these members and unfortunately some of them took that bait and they were trying to influence congress and in many ways it worked did they break the law and do and that's.

Well that's why we issued the report I think we have to continue to look at this because there is a very concerted effort I think today.

To use something -- to peddle influence they did it also it it at Fannie Mae and remember this ended terribly where they dumped so many of these loans on the American taxpayers and that's that's what makes this so agreed to.

The names of some of these current and former lawmakers who apparently on this VIP list that's been out for a little bit what apparently is new in your report this morning.

How to do with some of the top staff top level staffers who were also.

A part of this alleged influence peddling.

What did basically this is a country a company that was trying to prevent lawmakers from really putting in place any kind of meaningful reforms is that the idea.

While there is a reason that they were doing this they weren't just trying to be nice guys that didn't offer this to the public.

They went after celebrities that went after people at Fannie Mae and they went it -- people that we're in congress and it was a concerted effort to influence.

A process a process by which they would personally profit.

Now at at the surface that's just not allowed now.

The ethics committee has been referred this I don't know why they've got taken any action to this but as you go through -- look at this hundred plus page report I think you'll see it was they.

It very concerted effort to do something nefarious that should have never happened and the people that are involved in -- should be terribly embarrassed.

And I I think there should probably more action on how about more hearings -- -- you're you're committee has been very busy which you chairman Darrell -- still looking into fast and furious of course are we gonna see.

These lawmakers and their staff members on the VIP list.

Taking the -- and swearing in testifying.

In front of the house oversight committee.

Well we have referred it to the ethics committee this investigation it's been going -- for some three years German girl I size it has been tenacious on this.

It took a long time to get much of this information the ethics committee is gonna have to deal with the ethics committee portion of it.

-- we issued this report today in and we want to make sure this is not a piece of paper that goes up on some bookshelf that we actually do something about it.

To make sure that it doesn't happen again I mention fast and furious -- -- -- with the last couple minutes we have and ask you about that because senator Charles Grassley.

Putting in yet another request for more documents from the Department of Justice.

What have you heard about that has there been an official response.

To the request for those documents are you gonna get them.

Have we ever get paid for regretting getting that documents thus far the Department of Justice.

Attorney general holder has made it crystal clear he has absolutely no desire.

To communicate with congress let alone to give us the documents that were insisting.

I think there will be additional subpoenas I think there will be additional people that are called to testify on Capitol Hill.

If the White House thinks that fast -- -- just suddenly gonna go away.

With the admonition that hey we should just trust us and that isn't gonna happen we -- -- Border Patrol agents we got thousands of weapons missing.

We have a duty and obligation to continue to to pursue that what do you think of the attorney general statements earlier this week that he's simply a proxy for the president -- you guys.

Going after the attorney general as a -- to damage President Obama is that what's going on.

We're trying to get to the end of something where you have it dead Border Patrol agent 2000 weapons thing about us.

2000 weapons mostly AK forty sevens were purposely given to the drug cartels and the White House thinks that we should just trust them don't we don't ask any questions don't worry about it hey we got it under control.

That isn't gonna happen that's not the proper role of government in this case so.

Look we want the truth this -- and tomorrow if they just provide the documents so the White House President Obama in his staff say.

That documents prove that there's no nothing no wrongdoing then provide the documents that we can put an end to this Fisher put an end to it.

Over a year ago so.

If they're creating this problem -- -- -- tomorrow they just that the political will to do it Jason shape -- Republican congressman from the great stated you -- thank you very much or not to talk to you.

Think you.

Thank you.

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