The settlement brings to a close the consolidated class action lawsuit brought in by multiple retirement funds against Countrywide and other defendants for securities violations involving the packaging and sale of MBS. Bank of America acquired Countrywide in If approved by the U. District Court in the Central District of California, the settlement will bring to a close the consolidated class action lawsuit brought in by multiple retirement funds against Countrywide and other defendants for securities violations involving the packaging and sale of MBS.
Credit Risk: Countrywide Financial Corporation All in all, it is very true that risk are an inherent part of business. Thereby looking at the various types of risk, many entities are impacted by all types of risk. A company representative of credit risk are that I find to exhibit credit risk is Countrywide Financial Corporation.
The report also provided some of the cause that it saw were responsible for the crisis. These include; dramatic breakdowns of corporate governance inclusive of poor or rather reckless acts by the financial firms with regards to taking too much risk, excessive borrowing and risk by Wall Street and households which brought economic systems to a collision course with the crisis Riccardo Bellofiore. The great recession came about as a result of different factors acting together thus leading to the economic…. At the brink of bankruptcy, there were other major financial institutions that had to be saved by governments all around the world.