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By William K. Black

On March 7, 2012, I testified before the Senate Committee on the Judiciary on the failure to prosecute the elite fraudulent financial CEOs who drove the ongoing crisis.  The first witness testifying to the committee was Assistant Attorney General for the Civil Rights Division, Thomas Perez.  The focus of the hearing was Countrywide’s massive racial and ethnic discrimination against minorities.  Perez testified that there were over 200,000 identified victims of discrimination by Countrywide and that the settlement his office negotiated led to a payment that was 50 times larger than the largest previous settlement.  Perez testified that each of these victims of Countrywide’s discrimination will receive between one and two thousand dollars.

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