An update to the still developing story on the corruption of the mortgage industry, and of those sitting Senators named as recipients of sweet "VIP Package" loans.
Senator John Cornyn (R-TX), the ranking Republican on the Senate Ethics Committee, has jointly proposed an amendment for the housing legislation pending in the Senate that requires more stringent disclosure of senators' mortgages. According to CQ Politics, all six members of the committee are in agreement. Senator Cornyn and Chairwoman Barbara Boxer have the other 4 members of the committee as co-sponsors.
"Accountability in government is only an empty promise without transparency and disclosure," Cornyn said in a statement.
This was first suggested by Cornyn on June 17 as the public accounts of Countrywide Financial and the links to Senators Dodd and Conrad came to light.
There is no word, as the panel operates with discretion, if a formal investigation has begun.
An article by Ben Pershing of the Washington Post includes the tidbit that the Politico asked all 100 Senators about their mortgages. A total of 77 agreed and 23 didn't cooperate with the questions. The list is on the Politico's web site. Go there and find out if your senators are in need of some questioning of their own.
Keep up the good work, Senator Cornyn.