Friends of Angelo, Part 2

Four lawmakers have been referred to the House Ethics Committee for receiving special mortgage loans from the notorious “V.I.P.” program of Countrywide Financial. Ethics rules require members to accept loans only “on terms generally available to the public.” It should be of great interest for the public, particularly those mired in mortgage trouble, to see if anything comes out of the Congressional investigation.

The loans were uncovered in a three-year-long inquiry by Representative Darrell Issa, the Republican chairman of the House oversight committee. He denounced Countrywide’s program as a source of “bribery” and “public corruption” when Democrats seemed to be the beneficiaries of the mortgage company’s largess. Now that three of the four House members referred to the ethics committee are Republicans, Democrats are urging Mr. Issa to keep up the good work.
The lawmakers have been identified in news reports as Howard McKeon and Elton Gallegly, both Republicans of California; Pete Sessions, Republican of Texas and the party’s Congressional campaign chairman; and Edolphus Towns, Democrat of New York. All have denied seeking or knowing about the “Friends of Angelo” program set up by Angelo Mozilo, former head of Countrywide.
Mr. Issa is vowing to press forward with his investigation of the loans, wherever it leads, his office insisted. The public should hope for similar dedication from the Ethics Committee.

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