Countrywide’s Ex Top Pigs Return to the Trough for Another Hit
from the inscrutable and laudable UppityWoman: You remember Countrywide Financials don’t you? The King of subprime lending piggishness? Stanford Kurland was their President and Second Banana to that other porky pig, CEO Angelo Mozilo, a guy you wanted to smack when you just looked at his smug overly-tanned face. These are the two thieves, along with their top executives, who led the charge of “teaser rates” that ballooned on unsuspecting borrowers, facilitating the housing mortgage crash. These are also the guys who handed out VIP loans to certain members of Congress as well–also known as “Friends of Angelo”. And what friends they were! Countrywide was the sweetheart of Fannie Mae. Fannie Mae couldn’t stop writing glowing reports on how great Countrywide was while they cheerily cooperated by handing out subprime mortgages to people who could barely make payments before the variable rate hike hit them. Birds of a feather bringing down America together. Countrywide went down in sh...