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Quigley Statement on Oversight Committee Subpoena of VIP Mortgage Records

October 23, 2009

WASHINGTON Today, Congressman Mike Quigley (D-IL) issued this statement following news that the House Oversight and Government Reform Committee sent a subpoena to the country's largest mortgage lenders, including Bank of America/Countrywide Financial, to investigate whether preferential loans were given to policymakers and other influential government officials:

"I would like to thank both Chairman Towns and Representative Issa for working in a bipartisan manner and taking this important first step toward what needs to be a full and transparent investigation. Amidst one of the greatest financial crises of our lifetime, a complete review is the only the way we will know if these improper lending practices influenced anyone's judgment or ability to make impartial policy decisions. Now more than ever, we must focus on protecting the taxpayers, not one another, and I look forward to working together to getting straight answers and making sure this never happens again."

Yesterday, Quigley and Rep. Paul Hodes (D-NH) sent a letter to Reps. Towns and Issa encouraging them to consider issuing a subpoena and acquiring access to the documents.