You just saved $75,000 through Countrywide’s VIP lending program!
This entry was posted
on Thursday, June 19th, 2008 at 12:59 pm and is filed under Uncategorized.
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
Where is the outrage from the public? This corrupted idiot, is a member of the Senate banking committee, and is rewriting legislation with regard the mortgage and banking industry? Now he wants to record every credit transaction in America and create a massive Goverment data base? It is time to get rid of him and Rep. Barney Frank. These two idiots are nothing more than cheaters and down right criminals, and Mass. and Conn. should get off their lazy asses and recall them immediately!
People have to realize these criminals think they are entitled to anything and everything. They live high on the hog, accept graft as if the are deserving, use government credit cards like it is their money, reward family members with jobs or government contracts, etc. Remember there is a certain level of psychopathology. I would venture to guess that 80-90% have a Narcissistic Personality Disorder “a condition characterized by an inflated sense of self-importance and an extreme preoccupation with one’s self.” If they were not politicians they would be selling used cars or chasing ambulances. So expecting anything different is really not very realistic. The only way we will ever get their attention is to undermine their money machine, i.e. our tax money. What we really need is a national strike for about 7 to ten days-that means no one goes to work, no one buys gas, no one buys cars, no one pays any taxes due at the time, in fact no one pays any bills, credit or otherwise, no one watches TV, no one takes public tranportation, etc. Maybe then we will become more than an after thought to these people.
Please show me the proof that he received a loan at a better rate than the regular public. What were the prevailing rates? What type of mortgage was this (30 year fixed? ARM, etc.) What is his credit score and income? All these things are factored into the cost of a loan…Then on top of that, brokers and loan officers are authorized to trim points to gain business.
More importantly - and something you fail to mention in this sad little presentation - where is the PROOF that Senator Dodd knew anything about this? He was told by a C-wide loan officer he was in a VIP program. I’m in a VIP Program at my grocery store, where I get my oil changed, at my bank, with my credit cards, etc. That term is tossed around as a marketing ploy.
You also fail to mention (probably because you were really psyched to dress up in the Panda outfit) that Senator Dodd and his wife received THREE nearly identical quotes. He may be a Senator, but he’s also a consumer. It’s called capitalism. Deal with it.
You’ve either had too much of the liberal Kool Aid or haven’t been paying attention. The “VIP” program Sen. Dodd is involved in isn’t a simple marketing ploy offered to every loan seeker. Within Countrywide the program was called “Friends of Angelo” (Angelo refers to Angelo Mozilo, the CEO of Countrywide). According to the company, those who received these “F.O.A.” loans were a small, select group who received better rates than those available to ordinary borrowers and whose loans were personally prepared by Mr. Mozilo.
I agree with Bud on this one, that’s exactly what we need. But not 10 days. We need about 3-6 months without paying any taxes. Employees have the legal right to refuse payroll deductions of taxes and can have all the deductions removed. Only then, when the pig is starving will we see any change in this country. All you ever hear is how if we didn’t have these taxes on gas or on this that the roads would be falling apart and this would happen. However everywhere you look we have bridges falling down, the roads are a mess, wheres the tax dollars? You know where they are, we need to stop feeding the pig.
Crew Guy - I’m not rushing to attack and I haven’t had any of the Kool-Aid (sort of “pot calling the Kettle black after reading this website).
I’ve just read more than one news source on this issue. Shockingly, MORE information on this topic came to light after the Portfolio article — information that actually sheds light on the Dodd/Conrad side of the story. (But Freedom Watch wouldn’t want to talk about that — it might interfere with their smear campaign).
Dodd was never told it was “FOA”, the loan officer mentioned a VIP program in passing. Dodd and his wife received three loan quotes from three different organizations all within the same range and if you look at loan rates at the time he secured these mortgagaes they are within the norm for someone with both spouses working in very secure jobs with an annual income of $270,000, over $1,000,000 in investments and excellent credit. He did what every American consumer would have done — he shopped around. That’s what I did and I can safely assume that’s what 99% of us would do. When does the Panda show up where I work with the check showing I saved half a point on my mortgage ?
Again — Story here? The enormousness of the NON STORY.
Freedom Lies - He just shopped around and stumbled into this loan, eh? Interesting since every news article I’ve read (and, yes, I’ve also read more than one source on this issue) says that these kinds of rates typically aren’t available to the general public. Also, according to inside sources at Countrywide, recipients of the VIP loans were “assured that they were receiving the ‘Friends of Angelo’ discount, and that Mozilo had personally priced their loans.”
June 19th, 2008 at 2:40 pm
Where is the outrage from the public? This corrupted idiot, is a member of the Senate banking committee, and is rewriting legislation with regard the mortgage and banking industry? Now he wants to record every credit transaction in America and create a massive Goverment data base? It is time to get rid of him and Rep. Barney Frank. These two idiots are nothing more than cheaters and down right criminals, and Mass. and Conn. should get off their lazy asses and recall them immediately!
June 19th, 2008 at 3:11 pm
People have to realize these criminals think they are entitled to anything and everything. They live high on the hog, accept graft as if the are deserving, use government credit cards like it is their money, reward family members with jobs or government contracts, etc. Remember there is a certain level of psychopathology. I would venture to guess that 80-90% have a Narcissistic Personality Disorder “a condition characterized by an inflated sense of self-importance and an extreme preoccupation with one’s self.” If they were not politicians they would be selling used cars or chasing ambulances. So expecting anything different is really not very realistic. The only way we will ever get their attention is to undermine their money machine, i.e. our tax money. What we really need is a national strike for about 7 to ten days-that means no one goes to work, no one buys gas, no one buys cars, no one pays any taxes due at the time, in fact no one pays any bills, credit or otherwise, no one watches TV, no one takes public tranportation, etc. Maybe then we will become more than an after thought to these people.
June 20th, 2008 at 11:53 am
[...] h/t Freedom Talk [...]
June 21st, 2008 at 9:22 am
“Giant” huh…be sure not to look into the Iraq War spending amounts…you guys might faint…
How was Rep. Barney Frank involved in all this??
June 23rd, 2008 at 7:35 am
Please show me the proof that he received a loan at a better rate than the regular public. What were the prevailing rates? What type of mortgage was this (30 year fixed? ARM, etc.) What is his credit score and income? All these things are factored into the cost of a loan…Then on top of that, brokers and loan officers are authorized to trim points to gain business.
More importantly - and something you fail to mention in this sad little presentation - where is the PROOF that Senator Dodd knew anything about this? He was told by a C-wide loan officer he was in a VIP program. I’m in a VIP Program at my grocery store, where I get my oil changed, at my bank, with my credit cards, etc. That term is tossed around as a marketing ploy.
You also fail to mention (probably because you were really psyched to dress up in the Panda outfit) that Senator Dodd and his wife received THREE nearly identical quotes. He may be a Senator, but he’s also a consumer. It’s called capitalism. Deal with it.
Story here? The enormousness of the NON STORY.
June 23rd, 2008 at 12:22 pm
Freedom Lies:
You’ve either had too much of the liberal Kool Aid or haven’t been paying attention. The “VIP” program Sen. Dodd is involved in isn’t a simple marketing ploy offered to every loan seeker. Within Countrywide the program was called “Friends of Angelo” (Angelo refers to Angelo Mozilo, the CEO of Countrywide). According to the company, those who received these “F.O.A.” loans were a small, select group who received better rates than those available to ordinary borrowers and whose loans were personally prepared by Mr. Mozilo.
Here’s the story: http://www.portfolio.com/news-markets/top-5/2008/06/12/Countrywide-Loan-Scandal
Best get your facts straight before rushing to attack.
June 23rd, 2008 at 12:38 pm
I agree with Bud on this one, that’s exactly what we need. But not 10 days. We need about 3-6 months without paying any taxes. Employees have the legal right to refuse payroll deductions of taxes and can have all the deductions removed. Only then, when the pig is starving will we see any change in this country. All you ever hear is how if we didn’t have these taxes on gas or on this that the roads would be falling apart and this would happen. However everywhere you look we have bridges falling down, the roads are a mess, wheres the tax dollars? You know where they are, we need to stop feeding the pig.
June 24th, 2008 at 6:56 am
Crew Guy - I’m not rushing to attack and I haven’t had any of the Kool-Aid (sort of “pot calling the Kettle black after reading this website).
I’ve just read more than one news source on this issue. Shockingly, MORE information on this topic came to light after the Portfolio article — information that actually sheds light on the Dodd/Conrad side of the story. (But Freedom Watch wouldn’t want to talk about that — it might interfere with their smear campaign).
Dodd was never told it was “FOA”, the loan officer mentioned a VIP program in passing. Dodd and his wife received three loan quotes from three different organizations all within the same range and if you look at loan rates at the time he secured these mortgagaes they are within the norm for someone with both spouses working in very secure jobs with an annual income of $270,000, over $1,000,000 in investments and excellent credit. He did what every American consumer would have done — he shopped around. That’s what I did and I can safely assume that’s what 99% of us would do. When does the Panda show up where I work with the check showing I saved half a point on my mortgage ?
Again — Story here? The enormousness of the NON STORY.
June 24th, 2008 at 4:20 pm
“All you ever hear is how if we didn’t have these taxes on gas or on this that the roads would be falling apart and this would happen.”
What do you think funds these kind of projects? Gas taxes…that’s what.
July 2nd, 2008 at 2:48 pm
Freedom Lies - He just shopped around and stumbled into this loan, eh? Interesting since every news article I’ve read (and, yes, I’ve also read more than one source on this issue) says that these kinds of rates typically aren’t available to the general public. Also, according to inside sources at Countrywide, recipients of the VIP loans were “assured that they were receiving the ‘Friends of Angelo’ discount, and that Mozilo had personally priced their loans.”
Facts are stubborn things, aren’t they?