In early June 2008, Americans learned of a VIP loan program provided to influential politicians by Countrywide Mortgage at the direction of its chairman Angelo Mozilo – and that one of the so-called ‘Friends of Angelo” was none other than Jim Johnson, a former CEO at Fannie Mae who had just been tapped to head Barack Obama’s vice presidential vetting committee. Countrywide Friends Got Good Loans Countrywide Financial Corp. makes mortgage loans through a vast network of offices, brokers and call centers. But a few customers have gotten their loans a special way: through Countrywide Chief Executive Angelo Mozilo. These...
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