Tag Archives: preditory lending

Former Countrywide Executives Profit From Their Crimes

Stanford Kurland, formerly of Countrywide, has a new venture.

Stanford Kurland, formerly of Countrywide, has a new venture.

What do you think would happen if you ran your business with absolute reckless disregard for ethics or the law, with greed as your only motivator?  Would you be able to sleep at night?  What if the government found out?  They could close your business, or worse, send you to jail, right?

Wrong.  The government could simply let you take your money and walk away with no penance so you can start another venture where you’ll profit from your previous illegal/immoral business deals.

Any executive involved in the mortgage meltdown should be banned from profiting in any way from their criminal behavior.  The government should use the bailout money to run this very type of business and let the American taxpayers profit from foreclosed homes and not the serial crooks responsible for toppling the global economy.

The New York Times published an article yesterday about this very scenario, invovling former executives the dirtiest of all lenders in the real estate shell game, Countrywide.  You can read this article in it’s entirety here.

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Rick Santelli responds to WH on Kudlow Report…

Here’s Santelli’s response to the smug attack from the White House Press Robot:

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Illegal Policy Dictated By Barney Frank, Promoted By Bank Executive

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This video only illustrates the result of arrogance and recklessness on the part of the House Financial Services Committee, headed by Barney Frank.  Although the banks are complicit in these acts of predatory lending, our government devised and promoted a culture that rewarded criminal behavior.

Now, the Obama administration is taking these crooks at their word as they shovel our tax money into their pockets without even the slightest hint of government oversight.  It’s simply more of the same and we can’t afford to be silent anymore.

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