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Last year 2.2 million Americans filed for foreclosure. Predator lenders were making risky loans at a level never before seen. Wall Street was packaging said loans into securities and spreading the risk across the entire economy. The CEO of Counrtywide, the nations largest mortgage lender, sold 138 million dollars of Countrywide stock in an eight month period right before the price of the stock tanked by 80%. Were our leaders looking the other way? Last week the story of how Jim Johnson, as CEO of the Federal National Mortgage Association (Fannie Mae for short) accepted millions of dollars in sweetheart loans from Countrywide Mortgage at below market interest rates. Now Senator Kent Conrad, head of the Senate Budget Committee admits he unknowingly accepted a sweetheart loan from Countrywide and wants to atone by giving 10,500 dollars to charity. Counrtywide is being tight lipped abou ...

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