Allstate sues Countrywide regarding toxic securities – Wed, 29 Dec 2010 PST

Allstate sues Countrywide regarding toxic securities – Wed, 29 Dec 2010 PST
NEW YORK – Allstate Corp. has filed a federal lawsuit against Countrywide Financial Corp. over $ 700 million in toxic mortgage-backed securities that the insurer bought beginning in 2005, only to see their value decline rapidly. The suit, filed Monday in Manhattan federal court, targets Countrywide, its co-founder and longtime CEO Angelo Mozilo and other executives, as well as Bank of America …
Read more on The Spokesman-Review



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