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Old 03-03-2009, 06:20 PM
 
Location: Some place very cold
5,499 posts, read 21,579,426 times
Reputation: 4311

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Countrywide, once the nation's largest mortgage lender, was bought up by BofA. Now ex-Countrywide execs are getting rich all over again with a brand new scheme that looks eerily like the old one. They are buying bad mortgage loans for a profit.

Read the full article here:

http://www.nytimes.com/2009/03/04/bu...nted=2&_r=1&hp
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Old 03-03-2009, 06:31 PM
 
Location: Conroe, TX
684 posts, read 2,020,307 times
Reputation: 199
..okay, it's official....I am having an aneurysm...

Unfrickingbelievable.....
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Old 03-03-2009, 08:29 PM
 
94 posts, read 310,372 times
Reputation: 45
Capitalism at its best!
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Old 03-04-2009, 05:14 AM
 
Location: Fort Myers Fl
2,305 posts, read 2,887,606 times
Reputation: 920
It's about time someone stepped up to the plate and try to take over these toxic assets. They will do a much better job than the government could ever do. It is a risk dealing with these and who understands them better than these people. Right or wrong it needs to be dealt with and who really cares who does it, just get it done.

And when The New York Times puts out an article it's like watching MSNBC, you only get one side of the story.
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Old 03-04-2009, 06:28 AM
 
Location: Southwest Missouri
1,921 posts, read 6,057,353 times
Reputation: 924
Seems like a great business move to me. What's the problem?
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Old 03-04-2009, 06:50 AM
 
Location: Fort Myers Fl
2,305 posts, read 2,887,606 times
Reputation: 920
Quote:
Originally Posted by 8 SNAKE View Post
Seems like a great business move to me. What's the problem?
Because a majority of the sheeple get jealous of people who get off there ass and really work for a living. Now I must get off my ass and get in front of the computers and get ready for some trading. I have a good feeling about the market today.
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