Bank of America Liable for Crimes of Countrywide!
Date: Wednesday, December 21, 2011, 5:51 PM
Breaking news! Bank of America is getting hit with $335M settlement over Countrywide's discriminatory and predatory lending. This further establishes that banks are liable for loan portfolios they acquired from subprime lenders who got closed down.
A central charge in this bank crime is that they sold subprime loans to people (minorities) who qualified for conventional loans! This is a clear indication of the level of disregard and even contempt that the banks have for people they knew they could take advantage of. This is fraud in its purest form. Now we must continue exposing the crimes until they are fully unraveled because of the extent of the damage the banks have caused to millions of people and the economy as a whole.
Note: Now let's hope the state AGs get the picture - they cannot give the banks amnesty for foreclosure fraud!