March 30, 2008
In an odd sort of thank-you note, Bank of American will give two top Countrywide executives, CEO Angelo Mozilo (pictured) and President David Sambol, $19 million in stocks. Bank of America took over Countrywide, the company made famous by writing loans all but guaranteed to fail. Countrywide’s loose lending habits were a significant contribution to [...]
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February 5, 2008
In Part 1 and Part 3, Sarah Ludwig and Herman De Jesus discuss the foreclosure crisis in New York City. De Jesus points out that subprime loans are the only loans available in many minority neighborhoods.
Part 2 features Nerida Soto-Cuccia, an ordinary, well-educated, middle-class homeowner who landed in foreclosure as a result of a subprime [...]
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