We’re going to enjoy this report, coming out today on the Friends of Angelo program.  Here’s an excerpt from the latimes.com:

Most recipients of VIP loans have said in news accounts that they had no idea they were receiving a special deal. But the report states that Countrywide clearly indicated to borrowers they were getting special deals, usually by including business cards indicating the loan came from a VIP unit.

Robert Feinberg, a 12-year Countrywide employee who processed VIP loans, told investigators that it was standard practice to tell borrowers, “Your loan was specially priced by Angelo.”

Chris Dudd is likely to be taking some more heat on this one.  Did you see him deny on CNN that he re-structured the legislation to protect the AIG bonuses, and then admitted that he did it 24 hours later? 

This was his quote on his Countrywide loans last month:

“No. I don’t think so at all,” Dodd told The Associated Press, when asked if the mortgages he received would affect his high-profile role in seeking to stem the nation’s housing foreclosure crisis.

Here’s the link to today’s latimes.com article:

http://www.latimes.com/business/la-fi-countrywide19-2009mar19,0,4389863.story ^[1]