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Bank of Amerika 'repaid' US Govt 1-cent on the dollar (not Wikileaks?)

POSTED BY: PIRATENEWS
UPDATED: Wednesday, January 5, 2011 19:57
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Tuesday, January 4, 2011 6:18 PM

PIRATENEWS

John Lee, conspiracy therapist at Hollywood award-winner History Channel-mocked SNL-spoofed PirateNew.org wooHOO!!!!!!


Bank of America settled numerous claims with Fannie Mae for an astonishingly cheap rate, according to a Bloomberg report.

A premium of $1.28 billion was paid to Freddie Mac to resolve $1 billion in claims currently outstanding. But the kicker is that the deal also covers potential future claims on $127 billion in loans sold by Countrywide through 2008. That amounts to 1 cent on the dollar to Freddie Mac.

Imagine if you had a $500,000 mortgage, and you got to settle it for $5,000 — that is the deal B of A appears to have gottem from Freddie Mac.

http://www.ritholtz.com/blog/2011/01/bofa-putbacks-freddie-mac/

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Tuesday, January 4, 2011 11:16 PM

DREAMTROVE


you're not wrong

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Wednesday, January 5, 2011 1:33 AM

CANTTAKESKY


That's disgusting.

Can't Take (my gorram) Sky
------
Everything I say is just my opinion, not fact.

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Wednesday, January 5, 2011 9:09 AM

KANEMAN


Quote:
Originally posted by canttakesky:
That's disgusting.

Can't Take (my gorram) Sky
------
Everything I say is just my opinion, not fact.



Not if you are a shareholder.....

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Wednesday, January 5, 2011 7:57 PM

DREAMTROVE


Kane,

It is if you're a shareholder of the USA.

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