When a market collapses, the fallout typically includes very public investigations into financial misdeeds that flew under the radar while everyone was profitable and happy.

In the case of the subprime implosion, enter the U.S. Department of Justice. In a wide-ranging action, Justice is suing Countrywide in a number of states for lending violations, while at the same time moving against a $325,000 settlement negotiated by Countrywide and a Chapter 13 Bankruptcy trustee in Pennsylvania.

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