Richard Weed

Illiinois - Countrywide: Potentially Devastating

First off, Warrior, save it. Secondly, Lisa Madigan is a publicity whore who has no real basis for her lawsuit. Countrywide isn't the devil here. Countrywide was turning down customers who ended up with NovaStar, New Century and Ameriquest. Oh wait... they're all out of business now. I guess Countrywide is the only lender who offered subprime left out there to take target practice on. I love seeing Countrywide referred to as a "subprime lender". Countrywide's subprime lending was less than 10% of its total originations annually. They are by no means a "subprime lender" like the others mentioned above. They are a scapegoat for all the other true causes of our country's financial woes (consumer greed, poor regulation, incompetent securities and credit rating agencies).

I pray that a judge throws the frivilous state lawsuits out the window. Unfortunately, some chump judge will want the publicity for punishing this "evil entity" and will help vilify them. What a joke....