This Weekend’s Hot Story
While it’s still free, check out this article in The New York Times: ‘In Prison for Taking a Liar Loan.’
It recounts the utterly fantastic tale of a how a small-time Countrywide borrower came to serve a 21 month sentence for mortgage fraud, while the bank’s senior executives literally walked away with billions, even as they helped wreck the U.S. housing market.
The kicker?
The borrower/convicted felon has been stripped of both of his properties, and still owes Countrywide over $200k, thanks to a court odor order.
In a nutshell, it captures what is wrong with so many institutions in this country at the moment . . .
