Professor Elam

An alert Marie Callier spotte this article on Countrywide Mortgage.  A 79 year old postal worker took out a mortgage to pay off some credit card debt. But the one percent interest rate ballooned to over 8 percent in one month.  Will CFC foreclose on him?  After re bounding to 17, CFC has dropped to just over nine bucks.  Will this stock survive?  My guess is that the truth about their predatory lending practices is now coming out.  It is hard to see how machinations by Bernake et al can save a company that, after you read this article, will hardly stir sympathy from the public.