what would you be excited to build? they re the most likely user base to buy whatever you build. this vip list of users, how did you recruit them and do you pay them? we call it learn vest labs. they write into us on a regular basis, i love what you re doing. we said, hey, we d love to talk to you on a regular basis and give you the inside scoop on what we re thinking and developing. do you want to be part of that? absolutely. they get to help shape our services. they re excited. they give us clear guidance on what they would be is this via e-mail? via e-mail, phone, and focus groups. we ran about 100 focus groups this year talking to customers in real life. ask those customers, because they re also likely the ones who will buy whatever you re going to sell. for those of us in small business, we re often so busy doing business that we neglect taking care of business, so if
that helped to trigger the nation s foreclosure crisis. lawmakers allegedly on their vip list, coming from both sides of the aisle. including senate budget committee chair kent conrad, house armed service committee chair but mckie on, and jason chaffetz joining us member of the oversight and government reform committee that issued that report this morning. congressman, so good to talk to you. what was countrywide but to? they were trying to peddle influence and using a product that members of congress and congressional staff wanted and needed. they were offering loans and what is called the friends of angelo program. that was the internal working name of this, where they would offer loans and do so without points, without these in a discounted manner. it was offered to members and the members and unfortunately some of them took that bait, and they were trying to influence congress in many ways, and it
he is a member of committee. what about the members of congress mentioned in this report, any reaction from any of them? reporter: the investigation found 29 loans were issued to 12 members of congress and staff as all part of this countrywide vip unit. both democrats and republicans. only one to respond so far is congressman buck mckeown of california. he is a republican. his spokesperson told us quote, mr. mckeown has been completely up front and transparent about his loan. he was never aware of any end friends of angelo designation. he provided all the loan documentation from the 1998 loan. mr. mckeown shares chairman issa s interest in determining if there is any wrongdoing by countrywide. so we just got our hands on the report a short time ago. we ll continue digging and bring you more details throughout the day. jenna: you re not on any vip list, are you mike? reporter: not at all. not even close. jenna: me, maybe on the frozen yogurt shop down the block but beyond that nothi
worked. rick: did they break the law in doing this? that is why we issued the report. we have to continue to look at this. there was a concerted effort to peddle influence. also did it at fannie mae. remember, this ended terribly, where they dump so many loans on the american taxpayers. that is what makes this egregious. rick: the names of some of these current and former lawmakers on this vip list, it has been out for a little while, it is new in your report this morning, it has to deal with some of the top-level staffers who were also a part of this alleged influence peddling. this is basically a company that was trying to prevent lawmakers from putting in performs? there is a reason they were doing this. they were not being nice guys. they did not offer this to the republic. they went after people that were celebrities and in congress. it was a concerted effort to influence the process, a process
by which they would personally profit. at the surface, that is not allowed. the ethics committee has referred to this, as you go to look at this hundred plus page report, it was a very concerted effort to do something nefarious that should ve never happened. the people that are involved in this should be terribly embarrassed, and i think it should be more action on it. rick: how about more hearings? your committee has been very busy, chairman are also looking into fast and furious. are we going to see these lawmakers and staff members on the vip list taking the oath and swearing and testifying in front of the house oversight committee? well, we have referred it to the ethics committee. this has been going on for some three years. darrell issa has been tenacious honest. it took a long time to get this information. the ethics committee will have to deal with the ethics committee portion of it. we issued this report today and we want to make sure it is not a