A rather surprising move:
In December of 2008, House Committee on Oversight and Government Reform Chairman Darrell Issa (R-CA), then the Committee’s Ranking Member, launched an investigation into Countrywide Financial Corporation’s infamous VIP and Friends of Angelo Program that exposed the inner workings of Countrywide’s efforts to buy friends in critical government and industry positions affecting the company’s business interests. Today, Chairman Issa issued a wide-ranging subpoena to Bank of America for all documents and records related to Countrywide’s VIP program…
What is unusual is that Republicans tend to let bygones be bygones – Dodd and some of the other biggies in this are out of politics and this is all old news. Democrats tend to count on this – they know that as a scandal breaks, it can hurt them…but they rely upon the GOP to not go back over things, later, to see what really happened. By looking in to “Friends of Angelo”, Issa is showing that he wants the full truth of our financial melt down to emerge. And that is bad news for Democrats.
To be sure, Democrat spin and MSM covering made the story out as a bi-partisan failure, but the reality is that the financial crash was created by the Democrats. They were the people who created the legal loopholes, who pressured the banks to get slack in underwriting, who took advantage of the bags of money for personal enrichment…and it was Democrats who resisted tooth and nail any attempts to head off the disaster. This isn’t about any one Democrat – no particular element of the corruption is all that important…but what is important is telling the truth about what happened, and punishing those who caused the mess….and, in to the bargain, instructing the people about just how lousy with corruption the Democrats have become.
This is a bracing, refreshing action by Issa, and I look forward to the results.
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