Thursday, December 22, 2011

Gangsters and Banksters - A Serial Tale Part IV

Once more, we have a tale of banksters acting like gangsters.  In this story, the banksters' gangster activity occurs in the home mortgage industry.

In The New York Times article,"Countrywide Will Settle a Bias Suit," the settlement between the U.S. Department of Justice and Bank of America (current owner of Countrywide) is described.

The essence of the Justice Department's case against Bank of America is summed up in the following statement:

“Chances are, the victims had no idea they were being victimized. It was discrimination with a smile.”
Thomas E. Perez, Justice Department’s assistant attorney general for civil rights.

To amplify Mr. Perez's comments, a little music by The Dramatics is provided.

Savage, Charlie and Nelson D. Schwartz. "Countrywide Will Settle a Bias Suit."  The New York Times 21 December, 2011: online edition.

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