This is another one of those “if these were Republicans the press would be all over this like a duck on a June bug” stories. However, media bias is what it is, and the mainstream can’t be bothered to investigate whether Democrats who were in a position to influence legislation received special low-interest loans as a gift. It’s obviously more important to have a debate as to whether Rush Limbaugh is a racist.
From The Hill:
Towns’ action came after repeated public ridicule from the leading Republican on the committee, Rep. Darrell Issa (R-Calif.), over Towns’s failure to launch an investigation into Countrywide Mortgage’s reported sweetheart deals to VIPs.
For months Towns has refused Republican requests to subpoena records in the case. Last Thursday Committee Republicans, led by Issa, were poised to force an open vote on the subpoenas at a Committee mark-up meeting.
At the crux of the matter are sweetheart VIP loan deals that Countrywide made to Senators Chris Dodd, Kent Conrad, and others with political influence. Republicans have discovered that Countrywide recorded calls with politicians and have apparently since destroyed them. Countrywide, now owned by Bank of America, is being kind of fuzzy about what happened to the tapes
Democrats first claimed the mark-up was canceled due to a conflict with the Financial Services Committee. Later they said it was abandoned after a disagreement among Democratic members on whether to subpoena records on the mortgage industry’s political contributions to Republicans. Finally, Democrats admitted that they were at a Georgetown frat party trying to score with some hot chicks.
Okay, I may have made up that last sentence.