Countrywide's "Deceptive" Practices: "Calfornia's attorney general is looking into new evidence of "deceptive" practices at Countrywide".
Pork Watch: "Senator Chris Dodd says the uproar over the Countrywide loans he received will not help his efforts to solve the mortgage crisis, says Tom Schatz, Citizens Against Government Waste".
I asked Rich Aronson for answers to no reply.
1 comment:
Sen Dodd, Schulter, and others sponsoring the housing bailout bill are not going to "solve" the mortgage crisis by legislation.
They'll only extend the inevitable workout of this monster stack of stinky paper, and they'll also lay the foundations of the next credit bubble.
The only constructive thing government authorities can do at this point is prosecute people like Angie Mozillo of Countrywide and every other greedmonging fraudster at the top of the mortgage fraud food chain, and repeal the Gramm-Leach-Baily Financial Modernization Act, and finally, re-instate the Glass-Steagal Act, that for 50 years protected us from a situation like this.
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