What were the ethical issues that caused the downfall of countrywide financial?

Answer 1

Countrywide Financial faced significant ethical issues primarily related to predatory lending practices, which included issuing subprime mortgages with misleading terms to borrowers who could not afford them. These practices contributed to the housing bubble and subsequent financial crisis, as many customers defaulted on their loans. Additionally, the company's aggressive pursuit of profit often overshadowed concerns for consumer welfare, leading to a loss of trust and credibility. Ultimately, these unethical practices, coupled with a lack of regulatory oversight, played a crucial role in its downfall.