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 | Obama Has Learned Nothing From the Mortgage Meltdown Mess Posted by William Dwyer on 1/05, 11:32am | |
| Just days before Christmas, the Obama administration gave Bank of America a big lump of coal, levying a hefty $335 million dollar fine on the company for discriminating against minorities in its lending practices. Supposedly Countrywide, a mortgage company bought by Bank of America in 2008, had not given out enough low interest rate loans to minorities from 2004 to 2008. What the large fine reveals is that President Obama hasn’t learned anything from the recent financial crisis. What the president sees as discrimination in awarding a mortgage, lenders saw as wise business decisions. | ||
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