Obama's Countrywide mess!

Hot Air blog points out, "When Barack Obama needed to win Pennsylvania, what villain did he use in his populist rhetoric? As we see in this video, he chose Countrywide Finance. Countrywide, Obama said, paid off its executives while leaving homeowners with foreclosure notices." He particularly criticized the company's CEO for his excessive compensation and more generally "infecting the economy and helping to create a home foreclosure crisis," which he linked not only to the 2 million who lost their houses but to school districts that couldn't purchase supplies and pay teachers.



When it came time to selecting his VP, what hero did Obama choose? Jim Johnson, who got millions in loans from Countrywide. According to John Dickerson at Slate.com, "Now the man Obama has entrusted with what he has called the most important decision of his campaign is wrapped up in Countrywide and tied to the CEO. There are lots of unanswered questions about the Johnson deal, though no evidence as yet that he did anything wrong. But the Obama standard isn't wrongdoing. It's mere connection to the company. By that standard, this is bad news."

This week Obama was forced, due to media and public pressure, to throw Jim Johnson under the train. How many more people will Obama throw under the train? The list is long and growing.

Now we learn about two other prominent Democrats who are on the Countrywide take. According to Bloomburg.com, "[Democrat] Senator Kent Conrad said he was given preferential treatment on a mortgage from Countrywide Financial Corp. and will write a $10,500 check to charity. "It appears Countrywide waived one point on my mortgage,'' Conrad, a North Dakota Democrat, said in a statement today in Washington."

"Conrad and [Democrat] Senator Christopher Dodd, who [since 2006 and before the current housing crisis] oversees the U.S. mortgage industry as chairman of the Senate Banking Committee, were among those who received loans through Countrywide's "V.I.P.'' program, which waived points, fees and borrowing rules for prominent people, Portfolio magazine reported June 12. Dodd has denied receiving preferential treatment." according to Bloomberg.com.

So much for Obama's rhetoric and promise of change. Obama, his party's leadership and his closest advisers are part of the old guard liberal Democratic machine.

What is that old saying, "Do as I say not as I do?"