Countrywide doesn't deserve all the blame

I'm floored by the outlandish comment published in last week's T.O. Acorn by letter writer Marilee Ullmann stating that, "In today's culture, it's money that comes before your rights as an individual. Countrywide is failing because that's the rules they followed."

My retort is: Because of Countrywide, people now have the ability to utilize their rights to own a home without regard to race, color or creed. Countrywide started as a mortgage company in 1969, at a time when the only people who were able to get a home were white, middle and upper class Americans because those were the only "types" of individuals that traditional banks would lend to.

Countrywide opened the door of homeownership to all individuals; thus, they're now the largest mortgage lender in the U.S. With that being said, they took risks to finance folks without stellar credit.

However, when are we, as U.S. citizens, going to hold people accountable for their actions? Individuals defaulted on their loans, loans which they had all of the information in blackand-white prior to signing.

Perhaps, if they didn't understand the conditions of the loan, they shouldn't have signed. Many companies, Countrywide actually leading the way, have put together information on websites, pamphlets and call centers to educate the "average Joe" when it comes to buying a home.

In my opinion, ignorance is not bliss and has perpetrated the financial crisis that this country is experiencing.

I was proud to work for Angelo Mozilo and the company that he built for almost three years. Because of individuals not taking the responsibility for their own actions, which, in my opinion, has led to the current state of Countrywide, I've reluctantly moved on in my career.

Yes, companies are out to make money.

It's called capitalism. Jenny Conway Newbury Park