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Posted on 8/26/14 at 6:27 am to udtiger
quote:
And nobody should forget that BofA purchased Countrywide and then Merrill Lynch at the behest of the Federal Reserve and the Treasury. Former Treasury man Hank Paulson threatened then-BofA CEO Ken Lewis if he didn't buy Merrill. . . So BofA did Uncle Sam a favor, and then got slammed for it.
And now, in the saddest of ironies, the Obama administration is again loosening credit standards for "affordable" home purchases and expanding Fannie Mae and Freddie Mac. This is incredibly stupid. The same mistakes are being made.
Posted on 8/26/14 at 7:10 am to udtiger
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