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Reply #7: We don't need another failure and BOA did us a favor in 2008. [View All]

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Home » Discuss » Topic Forums » Economy Donate to DU
Eddie Haskell Donating Member (817 posts) Send PM | Profile | Ignore Sat Aug-06-11 07:13 PM
Response to Reply #6
7. We don't need another failure and BOA did us a favor in 2008.
By buying Countrywide, BOA kept the regulators from the messy task of figuring out who would take on the responsibility of collecting payments for the 9 million U.S. home loans serviced by the failing lender. There was no government support for Countrywide’s loan portfolio. In this case, I'd cut BOA some slack.
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