TV News LIES

Tuesday, Apr 21st

Last update03:21:54 AM GMT

You are here News Economy Ex-Countrywide Exec Blows The Lid Off The Systemic Fraud At The Company

Ex-Countrywide Exec Blows The Lid Off The Systemic Fraud At The Company

E-mail Print PDF

Eileen Foster Eileen Foster, a former senior executive at Countrywide Financial, told CBS's "60 Minutes" Steve Kroft that mortgage fraud was a way of business.

"From what I saw, the types of things I saw, it was — it appeared systemic. It, it wasn't just one individual or two or three individuals, it was branches of individuals, it was regions of individuals," she told Kroft.

"All of the — the recycle bins, whenever we looked through those they were full of, you know, signatures that had been cut off of one document and put onto another and then photocopied, you know, or faxed and then the — you know, the creation thrown — thrown in the recycle bin," she said.

What's more is she told "60 Minutes" that Countrywide employees had a financial incentive to make these risky loans.

More...


Most Recent Related Stories...


Fight for $15 goes global: Workers set to launch worldwide protest

fast food workers set to go world wideOn Wednesday morning, the fast-food labor campaign known as Fight for $15 will stage what organizers...

JPMorgan Chase on track to pay $4b to homeowners as part of settlement

JPMorgan ChaseJPMorgan Chase & Co (JPM.N) is on track to meet its mandate to provide billions of...

How Wall Street captured Washington’s effort to rein in banks

Wall StreetIn the aftermath of the 2008 financial crisis, Keith Higgins was certain: Banks weren’t to blame.Higgins,...

SEC ruling is a major victory for whistleblowers

Whistleblowers muzzledIn what is being called a landmark ruling for whistleblowers, the Securities and Exchange Commission announced...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!