Interesting admission from Countrywide regarding those claims of working to modify loans for homeowners. From MSNBC:
In marketing, advertising and testimony before Congress, Countrywide Home Loans has said repeatedly that it is working hard to modify the mortgages of financially strapped borrowers caught up in the subprime meltdown. But in a New Hampshire court, attorneys for [...]

Senator Kent Conrad admits he wasn’t aware that Countrywide gave him preferential treatment on his mortgage and donated the equivalent fee to a charity. Senator Christopher Dodd on the other hand also got a loan from Countrywide but denies he was treated any differently. I don’t know if I buy that necessarily. Shame on Countrywide [...]

Bank of America is buying Countrywide. I guess we should have seen this coming considering how Bank of America had been posting “bail” for Countrywide for quite a few months. From MarketWatch:
NEW YORK (MarketWatch) — Bank of America Corp. said Friday it’s purchasing Countrywide Financial Corp. for $4 billion, effectively doubling down on a [...]