In 2007 Countrywide changed its status to become a thrift institution so that it could be regulated by the Office of Thrift Supervision rather than the Office of the Comptroller of the Currency. They did this to get less regulatory scrutiny of their lending practices. The story isn't new, but it's still good that the Post took the time to tell it.
--Dean Baker
There's too much at stake this November for us to quit. As we navigate another presidential election year, thoughtful independent journalism is more important than ever. We're committed to bringing you the latest news on what's really happening across the country this election season, shining a light on the stories corporate media overlooks and keeping the public informed about how power really works in America.
Quality reporting doesn't come for free, and we don't have corporate backers to rely on to fund our work. Everything we do is thanks to our incredible community of readers, who chip in a few dollars at a time to make what we do possible. This month, we're trying to raise $50,000 to help fuel our election coverage, and we've fallen behind on reaching our goal. Any amount you give today will bring us closer to making our reporting possible—and a generous donor has agreed to match all online donations, so your impact will be doubled.
You can help power this newsroom by making a donation today.
