Issa won’t drop Countrywide probe

Rep. Darrell Issa (R-Calif.) has not backed down from requesting a congressional investigation of the Countrywide mortgage loan scandal.

He tweeted Tuesday:

Note: I’ve been trying to get Dems to issue subpoena of all Countrywide VIP mortgage docs to no avail. Why?

http://bit.ly/GKXPw This report makes it clear: top-level Dems are pressuring oversight Dems to stonewall b/c they don’t want more Dodds

Issa continues to go after Sen. Chris Dodd (D-Conn.) and Countrywide Financial, although his efforts have not amounted to much recently.

The California Republican accused high-ranking Democrats of halting further investigations into politicians involved in lending scandals, specifically Countrywide’s VIP loan program. Dodd has defended himself against accusations that he accepted a favorable loan from the embattled company.

The SEC announced late last week it was filing charges against Countrywide Financial’s CEO Angelo Mozilo for fraud and insider trading. Mozilo is accused of providing favorable loans for selected “VIP” under his “Friends of Angelo” Program.

Issa, who serves as ranking member on the House Committee on Oversight and Government Reform Committee, linked to a new report alleging that the housing crisis was partially caused by political pressure to loosen lending standards in the housing market. The report also accused The Fannie Mae Foundation of “sharing profits” with political allies.

Issa’s committee published the report.