Florida sued mortgage lender Countrywide Financial Corpfor predatory lending practices on Monday, alleging the company at the center of the U.S. mortgage crisis made subprime loans to people who could not repay them.
The Florida attorney general filed the lawsuit, which names Countrywide Chief Executive Angelo Mozilo as a defendant, in state court in Broward County, Florida.
Last Wednesday, officials in Illinois and the company's home state of California also sued Countrywide. On the same day, shareholders approved the company's takeover by Bank of America Corp.
A spokesman for Bank of America, which is expected to complete its planned acquisition of Countrywide in July, declined to comment on the Florida lawsuit.
DEDICATED TO EXPOSING DISINFORMATION AND PROPAGANDA AND TO PROMOTING UNIVERSAL HUMAN RIGHTS - WITH SHARP ANALYSIS AND BLUNT COMMENTARY. NO ADS. NO TIP-JAR. JUST THE TRUTH.
Monday, June 30, 2008
MOZILO AND COUNTRYWIDE BEING SUED BY FLORIDA, CALIFORNIA AND ILLINOIS
REUTERS:
MAYBE DEMOCRAT US SENATORS CHRIS DODD, KENT CONRAD AND BARACK OBAMA CAN RETURN THE FAVOR$ ANGELO DID FOR THEM ($$$) AND HELP GET HIM GOOD LEGAL REPRESENTATION!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment