It seems to me that there is a major ethical problem here. These politicians accepting favorable rates are while the rest of use pays the normal rate bad enough, but they are surely influenced by their dealings with Countrywide in making policy. Is the foreclosure policy intended to pale out Countrywide, their friend and CEO Angelo Mozillo, or to help the citizen who might be facing foreclosure? If politicians really wanted to help the average citizen, they would lower taxes and encourage business growth so we can work and pay the mortgage.
Below is a list of the politicians that have received these sweetheart mortgage deals when the rest of us have to pay the normal mortgage rate.
-Alphonso Jaskson the former Secretary of Housing and Urban Development.
-Jim Johnson former chief of Fannie Mae, Obama advisor, and longtime Democratic Party power broker.
-Franklin Delano Raines, the former chairman and chief executive officer of Fannie Mae who served as White House budget director under President Bill Clinton, and "retired" from Fannie Mae to halt a U.S. Securities and Exchange Commission investigation into accounting irregularities. He was accused by The Office of Federal Housing Enterprise Oversight (OFHEO), the regulating body of Fannie Mae, of abetting widespread accounting errors, which included the shifting of losses so senior executives, such as himself, could earn large bonuses.
Donna Shalala, former Secretary of Health and Human Services, who in 1993, the Association of American Physicians and Surgeons, along with several other groups, filed a lawsuit against Donna Shalala over closed-door meetings related to the HillaryCare socialized health care plan, and since leaving the administration was embroiled in scandals at the University of Florida due to her extravagant lifestyle at the Universityâ€™s expense. She was also one of the Countrywide Six.
-Richard Holbrooke, former U.N. ambassador and assistant Secretary of State, who as U.N. Ambassador ignored whistleblower reports about the infamous Oil-for-Food scandals
- Senator Christopher Dodd - D. Connecticut, who oversees the U.S. mortgage industry as chairman of the Senate Banking Committee.
-Gaylord Kent Conrad - D. North Dakota, the chairman of the Senate Budget Committee and one of the first politicians to support Obama over Hillary.