Report: Countrywide Used Loans To Buy Influence

A report issued by the House Oversight and Government Reform Committee reveals that Countrywide Financial used special loan practices to bribe members of Congress and other government officials. The Committee started its investigation in 2009, and revealed that “sweetheart” loans were extended to thousands of people, including lawmakers and former executive branch officials. thousands of Countrywide employees, as well as employees of Congress, the White House, Fannie Mae, Freddie Mac and other government entities.

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