"Countrywide" Goes the Way of "Blackwater"

[ensho]

http://www.prwatch.org/node/8226


Countrywide Financial, the company infamous for its role in the subprime mortgage crisis, is now called "Bank of America Home Loans." Bank of America, which purchased Countrywide in July 2008, is using the name change "to separate itself from Countrywide's reputation," reports the Wall Street Journal. "The company hopes the new brand will simplify its relationship with customers while also emphasizing that Bank of America is a 'responsible lender' and 'accountable' for sustained homeownership." Bank of America is also trying "to showcase its contributions to an economic recovery after receiving $45 billion in U.S. aid." Ironically, "new mortgage applications" are "one of the few bright spots in banking right now," since the collapsing economy had led to low interest rates. Bank of America "plans to hire about 1,000 people" for its newly-renamed mortgage unit, "and move 500 employees to mortgage processing from home-equity processing."
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we are not fooled

[aquart]

1. Because Bank of America means such good things these days.

Maybe they want to reconsider.

[MADem]

2. Senator Dodd must be happy--perhaps now he can shake that "Countrywide Chris' nickname. nt

[laylah]

3. Countrywide has f****ed me

more than once...get in line BOA :mad:

[DJ13]

4. They have it backwards

They should have shit canned the BofA name.

[KamaAina]

5. Will the repuke party now change its name to the "Shiny Happy Party"?

:shrug: