Welcome to PatsFans.com

BofA's awesome Countrywide tax break

Discussion in 'Political Discussion' started by weswelker#83, Jan 11, 2008.

  1. weswelker#83

    weswelker#83 Rookie

    Joined:
    Dec 13, 2007
    Messages:
    4,535
    Likes Received:
    8
    Ratings:
    +8 / 0 / -0

    Brace yourselves, taxpayers of America. You're going to help Bank of America finance its $4 billion buyout of Countrywide.


    http://money.cnn.com/2008/01/11/new...wide.fortune/index.htm?postversion=2008011113



    Malcom (the burger expert) and John (the rich guy) are in the same basket , they will pay more than 1 billion dollars ,Bank of America will be able to deduct $270 million of Countrywide's losses annually for the first five years it owns the firm.
    Last edited: Jan 11, 2008
  2. weswelker#83

    weswelker#83 Rookie

    Joined:
    Dec 13, 2007
    Messages:
    4,535
    Likes Received:
    8
    Ratings:
    +8 / 0 / -0

    Last edited: Jan 11, 2008
  3. PressCoverage

    PressCoverage Banned

    Joined:
    Sep 25, 2005
    Messages:
    8,609
    Likes Received:
    13
    Ratings:
    +13 / 0 / -0

    unbridled, unlimited capitalism... it's awesome... :rolleyes:

    now back to complaining about transfats in restaurants and gay marriage...
    Last edited: Jan 11, 2008
  4. weswelker#83

    weswelker#83 Rookie

    Joined:
    Dec 13, 2007
    Messages:
    4,535
    Likes Received:
    8
    Ratings:
    +8 / 0 / -0


    Why I am not surprised ?
    Last edited: Jan 11, 2008
  5. QuiGon

    QuiGon Banned

    Joined:
    Mar 28, 2006
    Messages:
    6,123
    Likes Received:
    0
    Ratings:
    +0 / 0 / -0

    Unfortunately taxpayers are also "helping out" the idiots that took on more debt than they could afford.
  6. PressCoverage

    PressCoverage Banned

    Joined:
    Sep 25, 2005
    Messages:
    8,609
    Likes Received:
    13
    Ratings:
    +13 / 0 / -0

    speaking of idiots, ... they're also paying for a bullshyt war and cluster-f^cked reconstruction efforts that go no where...
  7. wistahpatsfan

    wistahpatsfan Rookie

    Joined:
    Jul 30, 2005
    Messages:
    15,672
    Likes Received:
    11
    Ratings:
    +11 / 0 / -0

    Taxpayers are idiots for letting BofA get away with this. And don't blame Congress for this crap, anymore. No one's willing to hold their feet to the fire. The megaCorps are betting that this will all blow over in a day or two...and they're right. The Public's ADD lets this happen. We are all responsible.
  8. weswelker#83

    weswelker#83 Rookie

    Joined:
    Dec 13, 2007
    Messages:
    4,535
    Likes Received:
    8
    Ratings:
    +8 / 0 / -0

    Lawmakers DID NOT Tackle Predatory Mortgage Lending Before the crisis.


    What To Do About Mortgage Brokers And Lenders Who Don't Play Fair?
    Sue The Bastards!
    http://www.freetimes.com/stories/15/10/sue-the-bastards
  9. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

    Joined:
    Sep 13, 2004
    Messages:
    31,381
    Likes Received:
    138
    Ratings:
    +281 / 9 / -9

    #24 Jersey

    Predatory lenders. Ha. Let me know when we see a lender with the gun to the face of a borrower.
  10. weswelker#83

    weswelker#83 Rookie

    Joined:
    Dec 13, 2007
    Messages:
    4,535
    Likes Received:
    8
    Ratings:
    +8 / 0 / -0


    You see I tought you were an honest and smart man , i give you the benefit of the doubt on this one .


    Sue The Bastards!
    http://www.freetimes.com/stories/15/10/sue-the-bastards
    Last edited: Jan 12, 2008
  11. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

    Joined:
    Sep 13, 2004
    Messages:
    31,381
    Likes Received:
    138
    Ratings:
    +281 / 9 / -9

    #24 Jersey

    In other words they know how to find the stupid people :D
  12. weswelker#83

    weswelker#83 Rookie

    Joined:
    Dec 13, 2007
    Messages:
    4,535
    Likes Received:
    8
    Ratings:
    +8 / 0 / -0


    Illetrate , lack of education , elderly people = stupid people??

    wow ! just wow .:rolleyes:
    Last edited: Jan 12, 2008
  13. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

    Joined:
    Sep 13, 2004
    Messages:
    31,381
    Likes Received:
    138
    Ratings:
    +281 / 9 / -9

    #24 Jersey

    Usually. Not always but usually.
  14. weswelker#83

    weswelker#83 Rookie

    Joined:
    Dec 13, 2007
    Messages:
    4,535
    Likes Received:
    8
    Ratings:
    +8 / 0 / -0

    So it's okay to prey on them , right ? ;)

    Without a doubt, people (especially elderly folks) were conned out of their money left and right. Reps lied through their teeth time and time again. Falsifying documents was normal as well as forging a borrowers signature. Even notaries were in on the deal. The ones that were the best at coaxing the borrower into signing questionable documents were the ones that got the business.We will hear and read a lot of stories , How *stupid americans workers were raped financially by corporate business machine , the real criminals of this decade .


    *stupid appellation by belichickfan.
    Last edited: Jan 12, 2008
  15. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

    Joined:
    Sep 13, 2004
    Messages:
    31,381
    Likes Received:
    138
    Ratings:
    +281 / 9 / -9

    #24 Jersey

    Some call it preying, others call it offering opportunity. I don't mean to be glib or be an assshole but within 12 months we'll be hearing how it's not fair that you have to have good or better credit to get a loan and that there's discrimination against inner cities and minorities by not offering them loans.
  16. weswelker#83

    weswelker#83 Rookie

    Joined:
    Dec 13, 2007
    Messages:
    4,535
    Likes Received:
    8
    Ratings:
    +8 / 0 / -0

    Without a doubt, people (especially elderly folks) were conned out of their money left and right. Reps lied through their teeth time and time again. Falsifying documents was normal as well as forging a borrowers signature. Even notaries were in on the deal. The ones that were the best at coaxing the borrower into signing questionable documents were the ones that got the business.We will hear and read a lot of stories , How *stupid americans workers were raped financially by corporate business machine , the real criminals of this decade .


    *stupid appellation by belichickfan.
    Last edited: Jan 12, 2008
  17. Real World

    Real World Moderator Staff Member

    Joined:
    Aug 15, 2006
    Messages:
    26,807
    Likes Received:
    144
    Ratings:
    +296 / 4 / -2

    I'm mixed on this. People need to know that borrowing $400k when you make $40k a year is not a good idea. At the same time, people who lend should not oversell loans to people who they know, won't be able to repay them. What bothers me the most is any single penny of tax payer money that goes to bail out either party. I wouldn't let anyone write off the losses or get federal assistance. When companies go out of business, then they'll learn to run a more ethical, and tight ship. When people see others losing houses because they were mentally retarded, then they will learn to not make similar mistakes. Those arsewipes should be in jail, and those who borrowed, should be labotimized. I had a friend who worked at Countrywide for 6 months and quit because he said it was the most unethical atmosphere he'd ever been in, and he couldn't screw people like everyone else was. On top of that, he couldn't believe how stupid people were with simple math.
  18. weswelker#83

    weswelker#83 Rookie

    Joined:
    Dec 13, 2007
    Messages:
    4,535
    Likes Received:
    8
    Ratings:
    +8 / 0 / -0

    Your friend is my hero .We shouldn't pay extra taxes to help this acquisition by Bank of America .It's just not fair for the millions *stupid americans who got screwed. The feds as well as the companies need to be held responsible.Banks that made these bad loans will be automatically punished when the buyers default. Unless, of course, the government bails out its rich friends which it is trying to.

    Should we Investigate the rich corporate business ?
    Maybe not , because it's Un-american!


    * Appellation by belichickfan.
    Last edited: Jan 12, 2008
  19. PressCoverage

    PressCoverage Banned

    Joined:
    Sep 25, 2005
    Messages:
    8,609
    Likes Received:
    13
    Ratings:
    +13 / 0 / -0

    i'm gonna have to ask you to expand upon exactly what you meant here... you know, regarding your friend...

    as for having misinformed people "labotimized", i'll chalk that one up as yet another "i'm joking, people" from you...

Share This Page

unset ($sidebar_block_show); ?>