BofA, Perhaps Countrywide Wrote Dodd-Shelby Bailout - THIS NEWS MUST GET OUT THERE!

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samjackson

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None of us really believed that Dodd could come up with anything close to this. Just go through transcripts or videos and look at the language and terminology he used just a few months back when referring to the subprime and credit meltdown. Think back to the left-field, irrelevent questions he asked at hearings when he could have made a difference by asking the right questions and getting information out. I have always wondered who was behind it all. Now we know what $70k in contributions, which is what BofA has given Dodd in the past 18-months, will buy. Only Hillary and Obama have received more from BofA.

This $300 billion Dodd-Shelby bailout is an absolute crime. It bails out the banks by limiting their loss to 10%; a joke since many of the problem areas like CA are down as much as 30% already on the median in the past 12-months and the rate of acceleration of the price declines are picking up steam. The subprime crisis is nearly over and now Prime, Alt-A, Pay Option ARMs and Home Equity Lines/Loans are failing. If they get this $300 billion passed, another $1 trillion+ will have to come on its heels for all of the other bailouts.

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