CountryWide: Rigged Game
Submitted by Robert Oak on Fri, 01/11/2008 - 15:32
Why would Bank of America buy out irresponsible Countrywide?
Well, to avoid paying any taxes by writing off the massive bad loans, that's why.
And the Countrywide CEO? He gets $88M for running a major company into the ground, requiring a buyout, causing millions to lose their homes, setting up greedy, predatory mortgages where no one could pay them off.
- Robert Oak's blog
- 1645 reads
Comments
Money from nothing
Now Citigroup is looking to foreign entities to sell itself too to get out of it's debt crisis.