Daily Outrage: Controversial mortgage program recordings destroyed

WHO: Rep. Darrell Issa

WHAT: San Diego-Riverside Republican Darrell Issa, ranking GOP member of the House Oversight and Government Reform Committee, wants to subpoena any surviving phone conversation recordings of Countrywide Financial Corp.’s controversial VIP loan program — which might have given “sweetheart” deals to public officials.

WHO HAS THE TAPES: Bank of America, which purchased Countrywide in July 2008, said that no recordings were kept when BofA “assumed management … and terminated the VIP program.” Issa wants more information on exactly what happened to the recordings.

WHAT’S BEING DONE: The committee chairman, Brooklyn Democratic Rep. Edolphus Towns, so far has turned down Issa’s subpoena request. Towns had a pair of Countrywide mortgages between 2003 and 2005, but then took his business elsewhere.

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

SF police union calls for federal prosecution of man shot by police

San Francisco’s police union urged federal authorities to intervene Monday after newly… Continue reading

Market Street goes car-free Wednesday — but can the new law be enforced?

Officials say simple rule will keep autos off SF’s main artery

At 2020 Grammys, new stars bail out the old-boys-club academy

Billie Eilish, 18, wins album, record and song of the year honors

Kobe Bryant, daughter Gianna among 9 dead in helicopter crash

Kobe Bryant, 41, the legendary basketball star who spent 20 years with… Continue reading

Don’t confuse exhaustion with lack of political might

2020 San Francisco Women’s March proves inspirational

Most Read