Countrywide Financial (NYSE: CFC) has joined an elite class of companies headed by Wal-Mart (NYSE: WMT) -- corporations whose behavior has rendered them the target of so much controversy that their critics have launche websites for the express purpose of trashing them.DontDepositAtCountrywide.info is, as the name suggests, calling on people not to deposit money with the company until "until it ensures that all subprime borrowers with interest rates that have reset in 2006 or 2007 can keep their homes!"
Obviously that request is insane -- there are always foreclosures and it's unlikely that people who bought homes they couldn't afford will -- or even should -- be able to keep their houses.
However silly the site's message may be, it does have some good resources for those looking into Countrywide: links to news stories critical of the company, lawsuits against it, and resources for homeowners having trouble with their mortgages.
For the record, I'm as critical of Countrywide and super-tan CEO Angelo Mozilo as just about anyone -- but the idea that all subprime borrowers are entitled to keeping their homes is ridiculous.
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