Katherine Mangu-Ward Discusses Cronyism, Corrupt Congressmen, VIP Loans, and the Housing Crisis

Reason Managing Editor Katherine Mangu-Ward discusses the controversy surrounding Countrywide making loans to government workers that have lower interest rates than normal loans and how easy it is to influence congressmen on CNBC's Closing Bell.

Airdate: July 6, 2012.

4.39 minutes.

Comments

[SIV]

Needs more latex-clad catfighting.

[John]

It is like "oddly attractive women with peculiar good looks" convention.

[Ryan60657]

"Airdate: June 6, 2012."

June 6? or July 6?

[John]

July 6. The closing Dow number on the screen shot matches the Dow closing for July 6.

[R C Dean]

So, as I see it, the Congressers have two potential responses:

(1) I'm too stupid to know when someone is doing me a significant financial favor.

(2) Don't worry, I took their favors, but I can't even be trusted to stay bought.

Confidence-inspiring, no?

[LimpoSimpo]

Show me a politician that is not corrupt and I show you a figment of your imagination lol.

http://www.Big-Anon.tk

[tarran]

Kudos to the Anonibot for showing yet more signs of self-awareness.

[PCOBorys]

Take another look at that comment, it applies to nearly every article written about our legislature. This is not a sign of machine intelligence, but a sign of elected official's lack of conscience.

[db]

I would think it's a simple actuarial calculation: the people most likely to retain high paying jobs are government workers, therefore they are a lower lending risk, therefore they get a better rate. QED.