Countrywide Settlement Lets Bank of America Off the Hook (for 12/29/11)

Bank of America's punishment of a $335 million fine to the Federal Government for overcharging more than 200,000 black or Hispanic borrowers is not an adequate reparation for this bank's actions. This fine does not match the massive profits Countrywide made in the boom before the housing market crashed. The bank pushed these otherwise creditworthy individuals into subprime mortgages. These practices expose racism in this company's lending practices. Banks foreclose on the homes of these minorities more frequently than whites. http://www.cbsnews.com/8301-505123_162-57347259/why-the-feds-countrywide-settlement-settles-nothing/?tag=cbsnewsMainColumnArea