"No probe because we don't know what it would turn up" US Congress

You've got to love the candor of these villains! Politico newspaper in Washington DC reports June 17 p1, p19 under the headline "Loan probe called Pandora's Box" that the Republican leadership in the House of Representatives say they won't be calling for an investigation into Friend of Angelo loans "because they didn't know what it might reveal."

Outside the Beltway, the Republicans need to be reminded, a probe or investigation is intended to reveal what is unknown. But inside the Beltway apparently you only have an investigation when you know beforehand what it will "reveal."

"You have to be very careful about opening Pandora's Box," one GOP aide is quoted.

So far the major figures revealed as using their position to get favorable Friend of Angelo mortgages are Democrats, notably Senators Christopher Dodd and Kent Conrad, and Obama volunteer James Johnson.

Dodd , chairman of the senate banking committee is the sponsor of a bill to bail out banks like Countrywide that made the mortgage loans that have been going bad in the past two years to the tune of tens of billions of dollars. Dodd would put the losses on taxpayers.

(Angelo is Angelo Mozilo CEO of Countrywide Financial that was only saved by being taken over by Bank of America.)

Dodd said with a straight faced he didn't know he was getting any special deal by calling CEO Angelo Mozilo personally for a loan - like it was beneath the dignity of a senator to talk to anyone at a bank below the level of CEO? (Dodd got $75k off his mortgage payments from Angelo, the Wall Street Journal says.)

Politico quotes a Republican: "We could use it politically but we'd have to do due diligence on our side."

And another: "You don't see many people jumping on this because you don't know if anyone else is dirty."

And they have the chutzpah to call what they do public service!

TOLLROADSnews 2008-06-23