Posted on 10/08/2010 8:30:23 AM PDT by null and void
Damn right it’s scary. This is a huge mess that the government implemented in order to create the situation where they have to step in and take over all of it.
Barny Frank and Chris Dodd kicked this pig in to motion.
The banks were forced to screw up their business model.
The dim govt steps in to make the banks solvent again.
Now the politicians make the business decisions for the banks.
B of A is just following their orders.
And it follows the pattern of the modern dimrat party that abhors the Constitution and property rights of private citizens. They have made themselves the judge, jury and executioner in all this.
the solution is to strip the loan off the real property and have an unsecued debt.
This works for banks. Since they don’t own it, they don’t have to report it.
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