The allegations against Countrywide are noteworthy in a number of respects. In particular are the beliefs of the SEC brought against this failed subprime mortgage market leader. Their Executive elite are alleged to have gained a corporate philosophy that failed to provide greater scrutiny of predatory lending practices. In general the law will look to some measure of causal effect that can support or validate the allegation of unconscionable practices
In the Countrywide matter, the gravamen is for understanding why a market leading industry giant fell victim to unconscionable lending practices . . .was it simply “greed” ?