Towns Punts on Countrywide Probe

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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.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

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Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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