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New Orleans – In one of the many articles on yet another multi-$100 million settlement, one story, almost in an aside, stated that the purchase of Countrywide’s assets by Bank of America, was “one of the worst deals ever.” The price tag for Bank of America has been billions. This settlement with the Justice Department [...] New Orleans Reports from Bloomberg News and the Los Angeles Times are raising the specter of Bank of America filing for bankruptcy for its Countrywide mortgage unit detonating the “nuclear” option to save the parent company and run from the toxic mortgage load bought in 2008. I wonder if this doesn’t finally give another [...] New Orleans When there is actual truth told about banks and bankers that may not mean anything will change, but at least it’s a good way to start the day. On the way to battle the Sioux warriors used to say, “this is a good day to die!” In the battle for banking accountability, this [...] Paul Watson takes a bullet New Orleans On the other side of the line there’s still a whining wall about Wikileaks and the end of the world as we know it (and, yes, you atavistic Neanderthals, I do “love Wikileaks” for what they are contributing these days!), but the New Year’s Day release of [...] Phoenix Sitting in the Phoenix office of Advocates and Actions (www.advocatesandactions.org), I had trouble believing Isabelle and Teresa when they told me that when they talked to servicers for Bank of America loans they were talking to B of A representatives in Costa Rica. This was the same Bank of America that received $45 [...] New Orleans Angelo Mozilo help found Countrywide and ran it for years until dumping it off to Bank America. Many of the subprime and ARM products were toxic and account part of the collapse of the real estate markets and banking empires all around the Great Recession. The SEC trumped a settlement with Mozilo [...] |
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Copyright © 2012 Wade Rathke: Chief Organizer Blog - All Rights Reserved |
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