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JSPEED4
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Bad Mortgages

Thursday, October 25, 2012

Well, Bank of America bought the bank that did a lot of bad home mortgages. So, now B of A is being sued for bad practices; the issueing bank they bought sold bad morgages to Fanny and Freddy.

Well, isn't it "Buyer beware!" in second-hand retail? And let's find out why Fanny and Freddy couldn't be bothered to notice that the nation did not need to be on the hook for a bunch of bad mortgages!!!!

And Clinton took off a bunch of bank regulations, such as not allowing balloon payment mortgages. He did a lot of good for this nation, but maybe he should be sued? Really, I think Fanny and Freddy should be sued first.
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Member Comments About This Blog Post
  • v JIBBIE49
    The guy running F&F was a thief who lied to everyone and covered up what he was doing, if I recall. Couldn't be any worse than what Old George Bush got away with in the Savings and Loan rip-off back in the 80s. Of course, Reagan had deregulated the banks then.
    1361 days ago
  • v CMBELISLE
    SOOO much political garbage going on but you still can't get people to open their eyes to it. Sad state in our country.
    1370 days ago
  • v USMAWIFE
    for a really good explanation of this

    http://www.rawstory.com/rs/
    2012/10/24/u-s-sues-bank-of-ame
    rica-for-1-billion-over-bad-mortgages/

    According to this BOA was also doing the same thing Countrywide was doing even after they purchased countrywide So if they do the crime, they should pay the fine
    1371 days ago
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