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Is Bank of America your mortgage lender?
#29
"The sale of worthless "secured" instruments caused the meltdown"

I beg to dis agree - it was a set up, between the rating, mortgage and insurance companies that rated these junk notes as AAA and then insured by the likes of AIG which did not establish sufficient reserves.

The melt down came when the greedy buyers defaulted after not being able to refi or sell and panicked at the thought of being upside down - starting the stampede

Bartender! - cool aid all around for all my banker buddies
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Messages In This Thread
RE: Is Bank of America your mortgage lender? - by missydog1 - 12-20-2010, 08:28 PM
RE: Is Bank of America your mortgage lender? - by missydog1 - 12-21-2010, 03:53 PM
RE: Is Bank of America your mortgage lender? - by missydog1 - 12-22-2010, 08:06 AM
RE: Is Bank of America your mortgage lender? - by Bullwinkle - 12-23-2010, 02:56 AM
RE: Is Bank of America your mortgage lender? - by missydog1 - 12-23-2010, 12:09 PM

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