Countrywide Unfairly Accused?

In response to the implications by various media that Countrywide somehow preyed upon innocent borrowers, they have begun a campaign of corporate patriotism. "Protect our House" is the tag-line of this internal cheer-leading and includes pledges of allegiance and the assistance of the crisis management team at PR superpower Burson-Marsteller.

If Countrywide were Powered by Principle rather than powered by an overriding concern for revenue, they might take an entirely different approach--one based on a commitment to continuously uncovering violations of their core values (whether extrinsic or intrinsic). To do so would be equally as effective as a PR tool, but would have the added benefit of improving the overall compliance of the organization with core values that would ensure strategic and ethical consistency.

At this very moment, instead of fortifying their denial of their distraction from the long-term consequences of their lending practices, they could be articulating appropriate principles that would avert another similar crisis. Unfortunately, as it has been from the start, Countrywide's attention is on their quarterly results and not on their long-term stability and performance. As so often happens in business, the longevity of the company is sacrificed at the alter of fast money.