State of Oregon Suing Countrywide
A little bit of local news . . . The State of Oregon, by and through, Attorney General John Kroeger and State Treasuer Ted Wheeler, filed two law suits. I've posted them below for your reading, and edification pleasure.
Apparently, there was a class action which the State of Oregon opted out of. They filed their own dang suit, thank you very much.
The class action would have amounted to the State of Oregon netting less than $500,000 in a settlement with Countrywide Financial Corporation.
"Oregon will not accept pennies on the dollar when Wall Street defrauds Oregonians," said Attorney General Kroger.
The law suits are "alleging" the state sustained over $14M in losses! I'm sure the losses are quite real.
Ted Wheeler, the state's Treasuer said that the Oregon Investment Council, a named Plaintiff in the suits, has a fidicuary duty to the citizens and residents of Oregon. Yes . . . yes, they do!
They opted out of the class due to the pennies on the dollar. There were 39 other states in the class action. Not sure what states, or if they opted out, or settled.
"The Office of State Treasurer and the Oregon Investment Council bought and sold shares in Countrywide stock and bonds between 2004 and March 2008 on behalf of Oregon Public Employees Retirement Fund (OPERF) and the Industrial Accident Fund (IAF), the SAIF workers' compensation investment fund." (cited: DOJ)
FEATURED IN THE GROUP: 
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