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Ex-Countrywide Exec Blows The Lid Off The Systemic Fraud At The Company - LaRoche

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Eileen Foster, a former senior executive at Countrywide Financial, tells CBS's "60 Minutes" Steve Kroft that mortgage fraud was a way of business. All of the recycle bins were full of signatures that had been cut off of one document and put onto another and then photocopied or faxed. In 2008, Bank of America agreed to acquire Countrywide. Foster's allegations could be a major bombshell in the upcoming lawsuit by Massachusetts' Attorney General Martha Coakley against Bank of America, JP Morgan, Wells Fargo, Citigroup and Ally Financial.

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At www.businessinsider.com

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