The Apologetic Liberal

       (From CNN Money)   The Illinois attorney general plans to file a lawsuit today against Countrywide Financial Corp. for engaging in “unfair and deceptive” practices to lure in homeowners to get mortgages they really couldn’t afford.  ”Countrywide’s conduct has contributed contributed to the high number of foreclosures in Illinois and caused significant harm to the public, the market, and scores of Illinois borrowers and homeowners,”  says the draft of the lawsuit.  Countrywide is in the process of getting bought by Bank Of America Corp.  More goodies about the lawsuit.  ”Unfair and deceptive advertising, marketing and sales practices were utilized to push mortgages, while hiding the real costs and risks to borrowers, including enticing borrowers with low teaser rates, low monthly payments and ‘no closing cost’ loans that failed to make clear and conspicuous.”  Basically, the State of Illinois is suing a mortgage lender for loan sharking.  It’s awesome.  

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