Towns Punts on Countrywide Probe


I wrote yesterday that Rep. Edolphus Towns had a big decision to make over whether he would join in on Darrell Issa’s Countrywide investigation. Well, he’s made his decision, opting to steer clear of this politically fraught inquiry. In addition to being busy investigating other financial crisis-related matters, Towns told the AP that VIP loans handed out to Senators Chris Dodd (D-Conn.) and Kent Conrad (D-N.D.) (and potentially other congressional lawmakers) are “the subject of current proceedings before the Justice Department and Senate Ethics Committee and it is not appropriate for the committee to interfere with those proceedings.”

What’s Issa’s next move? Slamming Towns for protecting “his friends” for starters. He’s also taken his Countrywide campaign to Twitter, asking followers, “What do YOU think Congress should do about this? (Sweetheart mortgages to members of Congress NOT being investigated?)” Towns may have declined his support, but don’t expect Issa, who’s been bird-dogging this for more than a year, to let this go anytime soon. Personally, I don’t care who investigates Countrywide’s favorable financing for lawmakers, but someone needs to—and it’s unclear whether the notoriously meek Senate ethics committee, which is presently looking into loans made to Dodd and Conrad, is up to the task.

Follow Daniel Schulman on Twitter.

DOES IT FEEL LIKE POLITICS IS AT A BREAKING POINT?

Headshot of Editor in Chief of Mother Jones, Clara Jeffery

It sure feels that way to me, and here at Mother Jones, we’ve been thinking a lot about what journalism needs to do differently, and how we can have the biggest impact.

We kept coming back to one word: corruption. Democracy and the rule of law being undermined by those with wealth and power for their own gain. So we're launching an ambitious Mother Jones Corruption Project to do deep, time-intensive reporting on systemic corruption, and asking the MoJo community to help crowdfund it.

We aim to hire, build a team, and give them the time and space needed to understand how we got here and how we might get out. We want to dig into the forces and decisions that have allowed massive conflicts of interest, influence peddling, and win-at-all-costs politics to flourish.

It's unlike anything we've done, and we have seed funding to get started, but we're looking to raise $500,000 from readers by July when we'll be making key budgeting decisions—and the more resources we have by then, the deeper we can dig. If our plan sounds good to you, please help kickstart it with a tax-deductible donation today.

Thanks for reading—whether or not you can pitch in today, or ever, I'm glad you're with us.

Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

We Recommend

Latest

Sign up for our newsletters

Subscribe and we'll send Mother Jones straight to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate