AGs Deal Countrywide a Double Whammy for Deceptive Practices
June 30, 2008
The attorneys general of California and Illinois filed separate lawsuits against Countrywide on June 25 for allegedly deceptive lending practices that pushed homeowners into risky loans and eventual foreclosure. The announcement of the lawsuits overshadowed news on the same day that Countrywide shareholders have approved Bank of America’s takeover of the beleaguered company. The deal is...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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