politics
Culture of Corruption 2008
Will the Democrats throw Chris Dodd and Kent Conrad under the bus and sacrifice a senate seat to provide justice for the thousands of poor folks who were hurt by countrywide lending practices?
We have been calling Sen. Chris Dodd’s (D-CT) housing bailout bill “ The Wall Street Bailout Enhancement Act” for over a month now. In particular, we have singled out Countrywide Financial as the bank with most to gain from the federal government’s generosity. Countrywide is the largest loan servicer in the nation. It has been accused by bankruptcy judges of using dubious tactics to issue mortgages to unqualified borrowers, and has been at the center of the nation’s still-unfolding mortgage crisis. In the last three quarters, Countrywide has lost $2.5 billion, and has $6 billion in nonperforming assets.
Tip to Patrick Ruffini
Discussion
One comment for “Culture of Corruption 2008”
Post a comment
No, Democrats wont do anything.