Countrywide & Bank of America Drop off Trusted List

December 16, 2008

Surprise, surprise.  With a housing market in collapse and hundreds of thousands of homeowners in foreclosure, Countrywide — the poster child company for predatory lending, is knocked off the list of America’s most trusted companies.  Not only that, but Bank of America, once relatively unscathed by the mortgage meltdown, is now sucked into the black hole, thanks, in part, to its take-over of Countrywide.

Wouldn’t it be nice to see Bank of America actually try to help all those homeowners who’ve been driven into default by Countrywide’s predatory loans, instead of fast-tacking the foreclosures?  Providing loan modifications to borrowers in default so they can stay in their homes, could actually help housing market.  Come on, Bank of America, do the right thing.  Put some of that 25-billion dollars in bail-out money you got to good use.