Ed Morrissey at HotAir noticed that the indictments are flying. It seems a federal grand jury would like to speak with some of the friends of Angelo Mozilo, the beleaguered CEO of Countrywide Mortgage, who got sweetheart deals on mortgages and loans–deals not available to the common folks.

Already public among these “friends of Angelo” are Senators Chris Dodd and Kent Conrad, Donna Shalala, Richard Holbrooke, Fannie Mae CEO Jim Johnson, and many others. We now discover that the woman many feel was behind the intelligence failures leading to the September 11, 2001 terrorist attacks, Jamie Gorelick, is also a good friend of Angelo Mozilo.

Of course, if she were still just a lowly Deputy Attorney General, she and Angelo might not have been so chummy. However, after her “Wall of separation” and 9/11 Commission “experience,” little Jamie came up in the world. Despite her seeming lack of economic experience, she was deemed fit to be named Vice Chairman of Fannie Mae. During her tenure there, she not only took in $26 million, but her company was embroiled in a multi-billion dollar accounting scandal, out of which Jamie got a bonus of nearly a million dollars. Here is a woman worthy of being a friend of Angelo, indeed.

And what a friend Angelo was! His “special friends” unit handled her $960,000 mortgage re-finance with kid gloves and, no doubt, low interest rates and fees. And little Jamie claims she was unaware of the preferential treatment. I’d like to think that a person bright enough to help head up Fannie Mae is bright enough to know when she’s getting a break on interest rates and fees. Is she stupid? Or is she lying? Neither choice is flattering to her, or to any of Angelo’s other special friends, who are already making the same claim.

I’m sure there are times when we all wish we had a “friend” like Angelo. On second thought, maybe not. I don’t like the kind of “invitations” his friends are currently receiving. And while having to choose between stupidity and perjury is less than appetizing to any of them, I hope they all choke on it.


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