Should you bail on Bank of America?
Shares of the financial giant are still reeling from the news that the company is liable for Countrywide’s 'Hustle' loan program.
According to Motley Fool Analyst Matt “Young Money” Koppenheffer, Bank of America is left holding the bag in this ruling, since it acquired Countrywide after the company had been pushing out bad loans.
However, Matt’s not too worried about the effect of the ruling on Bank of America, since the bank will only have to pay a maximum of under $900 million; that’s not much compared to Bank of America’s $8.5 billion settlement currently in court. In fact, Matt still thinks Bank of America and its big bank peers are solid buys.
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Don't forget that BAC was told in 2006 by the Democratic Congress to do everything possible to put people in homes regardless if they can afford them. This started the real-estate meltdown.
Someday the people may wakeup to see how our government operates. This government sucks.
The Government and people like you better get off BOA's back !! If BOA puts COUNTRYWIDE in BANKRUPTCY , everybody loses !! This case will be appealed for years, and BOA will win in the end !!
Who will rely on a New York Federal Jury ??? NOONE !!! One JURY VERDICT means nothing !!
I would not blame all the BIG BANKS, if they never made another MORTGAGE LOAN !! You just can't deal with a bunch of Obama Loving DEADBEATS !!
Hey . . . Old Geezer--and I assume YOU ARE--did it ever dawn on you that: had we NOT bought into the deregulation BS of Reagan, had we NOT engaged in two totally meaningless and misguided
wars at immense cost to the economy--wars that sought bin Laden where he WASN'T--BTW, wasn't it OBAMA who eventually did find and kill him--had we NOT let B of A and Goldman write the rules for CDO's during the mortgage debacle--even letting the man who used to RUN Goldman have carte blanche to "save" the economy--and I note that he saved Goldman and his pension while letting his 2 biggest competitors for investment banking underwritings go under--perhaps we wouldn't have run up such a huge debt, transferred so much money into the hands of so few--and proven by doing so that crime pays very, very well. It has long been the desire of the right wing to create a plutocracy--and they have done that very well. A cabal of angry old white men who are still upset that slavery was abolished, women got the vote and one can no longer beat women and children with a stick no bigger than a thumb have taken over the Republican Party and keep trying to throw civilization into reverse instead of moving forward. Face it--the RIGHT isn't. Perhaps you are spending too much time looking for blame where it isn't and are unwilling to put the blame where it belongs. Try looking through the windshield instead of the rear view mirror.
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After enjoying a smooth rise in stock prices since May, investors are about to be hit with another bout of volatility.
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