Pelosi supports Occupy Wall Street while her son gets preferential treatment from Countrywide

I guess consistency is only for the little people:

House Minority Leader Nancy Pelosi's strong statements in support of the "Occupy Wall Street" movement raise an interesting question: Does she, then, oppose the preferential treatment her son received at the hand of the financial industry?

Pelosi's son, Paul Pelosi, Jr., was protected from a round of layoffs when he was a mortgage broker for Countrywide, according to "Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon," a 2011 book co-authored by Pulitzer Prize-winning New York Times columnist Gretchen Morgenson and Joshua Rosner.

"Paul Pelosi, Jr., the son of Nancy Pelosi, the former Speaker of the House, worked as a mortgage broker and sales manager at a Countrywide office in San Mateo, California," Morgenson and Rosner wrote in the book. "In 2007, when the company was on the ropes and beginning a mass of layoffs, Pelosi's name was on the list of those to be cut. According to a former executive with knowledge of the situation, [Countrywide CEO Angelo] Mozilo personally removed Pelosi's name from the list."

According to Morgenson and Rosner, Countrywide was able to make political alliances with people like Pelosi through favors like this.

This calls into question not only the behavior of Countrywide, a major player in the sub-prime mortgage debacle, but also her own personal ethics. While her son was getting preferential treatment, was she voting on legislation that benefitted Countrywide?

Hat Tip: Ed Lasky



I guess consistency is only for the little people:

House Minority Leader Nancy Pelosi's strong statements in support of the "Occupy Wall Street" movement raise an interesting question: Does she, then, oppose the preferential treatment her son received at the hand of the financial industry?

Pelosi's son, Paul Pelosi, Jr., was protected from a round of layoffs when he was a mortgage broker for Countrywide, according to "Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon," a 2011 book co-authored by Pulitzer Prize-winning New York Times columnist Gretchen Morgenson and Joshua Rosner.

"Paul Pelosi, Jr., the son of Nancy Pelosi, the former Speaker of the House, worked as a mortgage broker and sales manager at a Countrywide office in San Mateo, California," Morgenson and Rosner wrote in the book. "In 2007, when the company was on the ropes and beginning a mass of layoffs, Pelosi's name was on the list of those to be cut. According to a former executive with knowledge of the situation, [Countrywide CEO Angelo] Mozilo personally removed Pelosi's name from the list."

According to Morgenson and Rosner, Countrywide was able to make political alliances with people like Pelosi through favors like this.

This calls into question not only the behavior of Countrywide, a major player in the sub-prime mortgage debacle, but also her own personal ethics. While her son was getting preferential treatment, was she voting on legislation that benefitted Countrywide?

Hat Tip: Ed Lasky



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