05-05-2008, 12:05 PM
our mortgage provider, Countrywide, is now junk rated. The BoA bailout appears to be stumbling.
Bank of America says it may not want to back up all of Countrywide's debts after all. Instead, it may decide to put $31.8 billion of Countrywide's debts in a separate corporation. Analysts think Bank of America may later take that corporation into bankruptcy, stiffing Countrywide's bondholders.
Quelle suprise!
I can't wait not to hear from them every stinking day offing some new way to steal our money to bail their sorry butts out. They out offer the deals of His Royal Highness Mtume Spratneolitum.
It's only too bad the crooks that run the company will walk away even richer for having failed the company.
poot!
And Greenspan says the US is in a mild recession that may last the year, while UBS is thinking of dropping 8000 employees. Bet they don't think of it as a mild recession.
Bank of America says it may not want to back up all of Countrywide's debts after all. Instead, it may decide to put $31.8 billion of Countrywide's debts in a separate corporation. Analysts think Bank of America may later take that corporation into bankruptcy, stiffing Countrywide's bondholders.
Quelle suprise!
I can't wait not to hear from them every stinking day offing some new way to steal our money to bail their sorry butts out. They out offer the deals of His Royal Highness Mtume Spratneolitum.
It's only too bad the crooks that run the company will walk away even richer for having failed the company.
poot!
And Greenspan says the US is in a mild recession that may last the year, while UBS is thinking of dropping 8000 employees. Bet they don't think of it as a mild recession.
“Art is how we decorate space.
Music is how we decorate time.”
Jean-Michel Basquiat
Music is how we decorate time.”
Jean-Michel Basquiat