Is this what is on the books of BOA?

[weld1]

i did'nt know that! is that right BOFA was bust in the 80s?????

 

[the1]

Expect a visit from asiaprop. He is not going to be happy.

Quote from gastropod:

We said that when the "senior" debt goes bad that the "issuer" would pay off the senior debt lender...well they will, but in order to "insure" against such a thing happening...the "issuers" entered into "Credit Default Swaps." These are the things that AIG "had to pay off" (<font size = "3"><font color = "red"></b>or else Goldman would have gone bankrupt<b></font></font>)...and the American public would have been spared BILLIONS of dollars! That is the entity left holding the "bags" - whomever has to pay off the senior debt holders - whether it be the issuer or the losing end of the credit default swap...or, as too often seems to be the case these days - the American public - because the "losing" end of the original credit default swap CANNOT PAY!

 

[fkbsuhites]

Ken Lewis is a Capitalist

The real problem are Corporate Democrats like Dodd, Rangel, Ralph Emmanuel, Obama and their entire cabal of Republican Enablers.

Some lead poisoning is in order.

Quote from larrybf:

WHY IS KEN LEWIS A FREE MAN ????? SOMEONE NEEDS TO GET SOME JAIL TIME!!!!

 

[rallydog]

Geezzzz! It's about time that someone else gets it! I've been posting on another thread for a while now that BAC is in deep trouble as are many of the other banks. They simply can't afford to book these losses quickly and must push them back for many quarters to come.

This is why short sales sit on the market and good offers are ignored for months eventually ending in foreclosure and prices lower than were offered in short sale.

The word on "the street" is Hopium. Much like opium, the lenders are hoping for a recovery to ease the pain. It's not coming any time soon.

Massive shadow inventory remains and if commercial collapses which it very well may, their hand will be forced. This will push more inventory onto the market driving prices even lower.

The bank rally is over, IMHO

 

[MattF]

My colleague I work for just got the BofA/CountryWide contract for homes in Massachusetts.

Delinquents/pre-foreclosures, etc. These are to be "serviced" (i.e. checked on every month) and try to talk to the homeowners/leave cards behind.

Problem? It's only about 9,000 homes to hit up every month..right now...

 

[MattF]

Quote from gastropod:

MattF - this gastropod (stomach with feet) is laughing his fat fool head off!!!! - couldn't agree more...so long as it is not a complete doomsday scenario (martial law, etc.)!!! Hopefully (though they have already tried) the dumb FU(K gov't doesn't try to intervene and further support home prices!

-gastropod

many CW/BofA (yea one and the same but I love using them both) bank-owned homes right now aren't even being listed. Actually again here in Mass. they were supposedly pulled off the market after a judge ruled on some illegal foreclosures (the representative wasn't the representative for the servicer who wasn't the servicer for the loan i.e. all this paper pass around never got recorded half the time).

Thus they sit there and landscaping companies are sub-contracted out to "mow the lawn" and "maintain" the home and maybe even "winterize" them...while it falls apart inside