Click HERE to Watch Issa’s Confrontation with Chairman Towns

WASHINGTON. D.C. – At a hearing today of the House Committee on Oversight and Government Reform, Ranking Member Darrell Issa (R-CA) challenged Chairman Edolphus Towns (D-NY) to hold a committee vote to issue a subpoena to Bank of America for all information related to the Countrywide VIP Program, which was used to curry favor through sweetheart mortgage deals with Federal Government officials and Members of Congress who held responsibilities related to housing policy.  In June, Bank of America expressed their readiness to cooperate with such a request but that amid legal restrictions they could only do so “if a Committee issues a valid subpoena for information, Bank of America would have a valid basis to produce information.”

“The very underpinnings of good government require that government officials when they take an oath to their city, or state or country, in fact, operate without an agenda bought and paid for by public and private money.  It’s clear that is not the case here,” Issa said.  “So, Mr. Chairman, I challenge you today to either issue a subpoena to Bank of America to get those records or allow this Committee to have an open vote sot he people of America can understand that, in fact, this is an important issue…Mr. Chairman, I call on you today to issue that subpoena, it is that important that I bring it up at this hearing and I call for you if you cannot do it to step a side and allow this Committee to have a vote.”

Issa continued, “I have never seen this Committee refuse to at least ask to see documents before deciding to ignore them…what we do know is that there is a level of intended corruption by Countrywide that clearly had an effect on government’s decision for years and we are ignoring it.  Wee cannot really understand the failure of government if we do not understand the failure of government officials led by an attempt to bribe them.”

Click here to read Bank of America’s response to Rep. Issa

Click here to read Rep. Issa’s June 2 request to Bank of America