Originally Published on the Pondering Penguin

When my husband and I purchased our first home, in 1985, the mortgage
was financed by Countrywide Financial. That name may sound familiar to
you now, given the recent news coverage of the sub-prime mortgage
‘crisis’. Allegedly, according to politicians like Barack Obama
remarking on the campaign trail about Countrywide Financial CEO, Angelo
Mozilo, the company takes advantage of “ignorant borrowers to make subprime loans it knew wouldn’t be paid off and then selling the loans
to the quasi-governmental Fannie Mae mortgage agency.” That from
Investor’s Business Day on June 17, 2008.

Obama, the candidate
of change, continues to surround himself with mouthpieces of the past.
In particular, Jim Johnson, the man selected by the candidate of change
to head up Obama’s vice-presidential search committee, is a long time
Democrate insider and, more importantly, money-man, had to leave the
campaign as the scandal develops and Johnson’s dealings with Mozilo and
Countrywide are exposed.

Two high ranking Democrat Senators,
Christopher Dodd who chairs the Senate Banking Committee, along with
the tag of former Presidential candidate and now supporter of Obama,
and Senator Kent Conrad of North Dakota who chairs the Finance
Committee and sits on the Budget Committee, have fallen into the net
cast in by investigators.

Both Senators denied any sweetheart
deals and as recently as last month, Dodd had the chutzpah to rant on,
blaming President Bush for the subprime mortgage mess, as he was
praising a $400 billion bail out for the industry, including his buddy
Angelo. Yes, it’s Bush’s fault, it’s always Bush’s fault.

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