Looks like Bank Of America is buying the remains of Countrywide Financial, one of the big losers in the subprime fiasco.
I really hope the housing market turns around. A lot of people have lost a lot of equity value in their homes through no fault of their own. Long term homeowners are not speculators, and yet all have suffered due to the bad decisons of banks and lenders out for quick profits.
Is it time for stricter government regulation of this industry? The lending industry in all its forms seems determined to prove it can screw up whatever freedom and de-regulation it is given.
