The House Ethics Committee has found no rules violations by lawmakers who used a VIP loan program from Countrywide Financial Corp.
The committee's leaders said its investigation largely led to the same conclusions as the Senate Ethics Committee, which determined in 2009 that there was "no substantial credible evidence" that two of its members had broken rules by accepting loans through the special program.
Although the House Ethics Committee likewise cleared members of that body, committee Chairwoman Jo Bonner (R-Ala.) and top Democrat Linda T. Sanchez of Lakewood said in a statement that there were serious concerns about some allegations against House staffers.
Closing the book a story that had caused some embarrassment for two local members of the Congress, the House Ethics Committee has concluded that no violations of law or standards of ethical conduct were violated by members who received so-called "Friends of Angelo" mortgages from Countrywide during the time Angelo Mozilo was chairman of the now-defunct lending institution.
Retiring Rep. Elton Gallegly of Simi Valley and Rep. Howard "Buck" McKeon of Santa Clarita, who now represents Simi Valley, were among the recipients of those loans. Both asserted that they not only did not receive special treatment, but were unaware that their loans were part of any special program initiated by Countrywide.
The Ethics Committee's report substantiates those assertions.
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