January 13, 2010

ProPublica - would it ever bite the hand that fed it?

Nobody has ever said that Golden West Financial Corp. deliberately foisted subprime mortgages on the unwitting. But, what if it did?

Would nonprofit media group ProPublica, most of whose funding comes from the Sandler Foundation, founded by Herbert and Marion Sandler after they sold mortgage lender Golden West to Wachovia Corp. in 2006 for $24 billion, investigate? With Wachovia now rolled into Wells Fargo, will they be tough on it as needed?

Just saying.

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