L.A. Grand Jury to investigate Friends of Angelo
Did someone mention "Friends of Angelo"? You were right on Tom.
Grand Jury to investigate Countrywide. (LA Times)
The Wall Street Journal reports that a federal grand jury in Los Angeles is investigating the so-called "Friends of Angelo" loan program at Countrywide Financial, under which influential borrowers received preferential terms on home loans.
The reported borrowers under the program have included U.S. Sen. Chris Dodd (D-Conn.), former Fannie Mae Chief Executive Franklin Raines, and California state appeals court judge Richard Aldrich.
This is just the start and could open up some interesting questions.
Obama's discounted $3.5 million dollar loan wasn't with Countrywide, so lets not try and make any comparisons.