Richard Weed

Countrywide: California Piles On

Yeah, jjason, because all the consumers of those loans were ethical when they overstated their incomes and assets to help qualify for more money to keep up with their neighbor's houses, boats and fancy cars. My point is that it's not just Countrywide's fault, it's a lot of people's fault. Countrywide is being used as a scapegoat since they're on their way out of business and into B of A's care.

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....

Countrywide: California Piles On

Jerry Brown is an idiot. So are the AGs of the states of Washington and Illinois. Unfortunately, some whacko judge who needs public sympathy for re-election will help them unjustly punish a company who followed loose guidelines within a poorly regulated industry. Heaven knows that none of those people were intelligent enough to understand an escrow officer telling them their rate would adjust as they signed hundreds of documents during the hour long process of closing their loan(s). It's all Countrywide's fault...

BofA/Countrywide Merger Arbitrage Opportunity

Of course Kurt, it's all Countrywide's fault right? Not the idiots who got these type of loans and are irresponsible with them. Next, we'll be blaming Anheuser Busch for alcoholism and GM for auto deaths. WHATEVER! When is the general public going to see this as an issue of personal responsibility??? If you borrow money, you need to pay it back, it's as simple as that. If you got in over your head, that is your fault, not the lender. The fact that everybody thinks they're entitled to be bailed out for poor decision making makes me laugh. No wonder our country is in such a mess. Hey, amybe I'll go run up a huge tab in Vegas and let the gov't know they need to bail me out because those darn casinos offer gambling... WAKE UP PEOPLE!!!

How Gene Ludwig Forced the Countrywide Sale

Finally, a cogent article by somebody at Seeking Alpha. It's good that for once, Mozilo dropped his ego down far enough to listen to common sense advice.

BofA's Countrywide Acquisition: Dumb And Dumber

I think the media slant on sub-prime lending is pathetic. Companies like Countrywide are tongue-lashed for being sub-prime lenders, but sub-prime lending helped a lot of people get into homes where they would not have had the opportunity previously. The majority of these sub-prime customers make their monthly payments on time and are now receiving the benfits of home ownership. Why does nobody talk about that side of the coin?