Case 28: "Countrywide Financial Corp and the Subprime Mortgage - 13451

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Module 7 Case Study Assignment


The case study assignment for Module 7 draws on the following case study in your  textbook:




Case 28: "Countrywide Financial Corp and the Subprime Mortgage Debacle" by Ronald W. Eastburn, C422-C436




Read the case and then respond to the case questions given below. (See "A Guide to Case Analysis" for further guidance on written case analysis.)




In addition to using the Countrywide case study provided in the textbook, research the company further to find any relevant events that have transpired since the writing of the case study. Use the company's Web site, Internet search engines such as Google, online data services, or other sources to locate the latest articles about the company including press releases and current financial information. Be sure to cite all sources according to APA guidelines (see also Documentation Rules and Citation Styles). 




Note: For assistance with analyzing the financial data in this case, Table 4-1 on pages 94-96 of your textbook is a useful reference.




Please limit your writing to four pages, double-spaced.






Case Questions:




1. Explain the cause of the housing bubble and its burst in the mid-2000s.  To what extent is this problem the result of ethical failure?  Explain.


2. Evaluate Countrywide’s role in the subprime mortgage debacle.  Was the company’s conduct unethical or illegal?


3. If we are to ensure that a crisis such as the subprime mortgage debacle does not occur again, what changes should occur in companies such as Countrywide?


4. Using this case as an example, who benefits and who gets hurt when a company engages in unethical or socially irresponsible behavior?




LO 7.1, 7.2, 7.3, 7.4




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