William Frey and David Grais Appear on Fox News to Defend Greenwich Suit Against Countrywide


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Greenwich Financial Services CEO William Frey and his attorney, David Grais, of Grais & Ellsworth LLP appeared on Fox News on Tuesday to answer questions about their lawsuit against Countrywide (see other postings on this story). In the segment, linked below, Frey maintains that Countrywide’s settlement with the attorneys general of several states requires a large portion of the cost to be borne by investors, rather than by Countrywide itself. Interestingly, Grais argues that “we are all in favor of modifications,” but also asserts that, “this is Countrywide’s problem and Countrywide ought to bear the cost of helping the borrowers, who they never should have made these loans to in the first place.”

You can view the full segment here.

This entry was posted in costs of the crisis, Countrywide, Fox News, Greenwich Financial Services, investors, lawsuits, loan modifications, predatory lending, settlements, television coverage of the crisis, William Frey. Bookmark the permalink.