Comments on: BofA Back Peddles on Countrywide Debt – Could Spell Trouble for Other Banks

By: marco barraza

marco barraza — Fri, 24 Oct 2008 16:37:51 +0000

THE UNITED STATES BANK OF AMERICA

By: Mr. Mortgage’s Guide to the TRUTH! » Bank of America Extends Branch Hours - I Wonder Why?

Fri, 25 Jul 2008 23:36:05 +0000

[...] While the Countrywide purchase my yet to prove disastrous, they have said recently they do not plan on making good on Countrywide debt and only plan to keep the good stuff. I wrote about it last week. [...]

By: Jim T

Jim T — Tue, 22 Jul 2008 18:54:18 +0000

Nobody is getting away with anything! The day of reckoning for all of this corrupt back door, slight of hand maneuvering to line the pockets of the Pig Men will soon be upon them. (September 2008)Google that “September 2008″ and read all about it. The game is over!

By: Lori

Lori — Tue, 22 Jul 2008 14:05:53 +0000

So…how does this affect those of us that currently have Countrywide loans, seriously? If what you’re talking about has all ready happened, we should have received something from BofA that they were taking over our loans, but we’ve received nothing. My loan is paid as agreed, and has nothing fraudulent (full doc, verified info) about it.

By: Mortgageman85

Mortgageman85 — Tue, 22 Jul 2008 12:49:08 +0000

CMON Man, is this really a shock to you?

CEO already said back in June he was doing away with the name. Also, expect to see the debt purchsed with treasuries to save the others from great losses. This is not just the bailout of Countrywide, but he bailout of everyone who touched it.

I propose we rename BofA to RTC 08.

By: Carl

Carl — Tue, 22 Jul 2008 12:07:56 +0000

I smell a RAT with this whole deal!!!

Can’t we get a deep investigation into this situation?? We need to know HOW and WHY BofA was allowed to get away with this??

Where is Nouriel Roubini when you need him?? The taxpayers are SICK of sitting by helplessly while crooks like Paulson and Ken Lewis get away with murder. The mafia had nothing on them.

By: K

Tue, 22 Jul 2008 09:46:48 +0000

Or perhaps we can see their takeover as LEAPS. Long term call option.

By keeping CFC in subsidary, if everything goes well, they can merge later. If not, they limit exposure.

Cheap LEAPS.

By: Marc Authier

Marc Authier — Tue, 22 Jul 2008 04:59:57 +0000

It gets funnier by the day in this country. Sometimes I have the impression of Indonesian, Argentinian or Turkish banking. And they pumped on TV that bullshit that Bank of America had better results. Crony capital leads to dictatorship. That’s the next step. I have a suggestion. Suspend elections and nominate for Henry Paulson dictaror. While you at it, change the name of the country to United States of Goldman Sachs. Banking accounting is a joke, like the federal government books. You will be paying the bill. That’s why Bank of America excluded Countrywide.

By: admin

admin — Tue, 22 Jul 2008 04:12:20 +0000

there are many unasnwered questions thats for sure. It may be my tin foil hat talking, but i think CFC was the first Govt orchestrated bailout, not Bear Stearns.

By: Tami

Tami — Tue, 22 Jul 2008 04:07:00 +0000

1 – Cross selling captive mortgage holders for deposits and credit cards. In January that may have been a good idea – but now?
2 – Top notch lending/servicing platform. Yep CW best over BOA. BOA can now scrap their inferior process and move forward.
3 – Protect their 2 bil loan to CW in late 2007. Making this deal 6 vs 4 bil. Seems now like throwing good $ after bad.
4 – I still don’t get how they can ‘not pay their dues’. Looking for their disclosures again. I guess I’ll try to do some reading again.