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COUNTRYWIDE IMPLODES
Finally, the count down if over. B of A agrees to purchase Countrywide. http://money.cnn.com/2008/0...
but.... Did the Fed encourage / engineer the union? I saw that question on Jim Jubak's message board, but can't seem to find the link right now.
27 comments from 11 users
1
posted by
bakonative
on Jan 11, 2008 at 04:15 PM
here's the link to Jubak's message board http://moneycentral.msn.com...
spam code: PPUYU - sounds like Steve's pippyup abbreviated! posted by
Lingtaowoo
on Jan 11, 2008 at 04:46 PM
I hear the CEO of Countrywide walks away with 350 million.....
posted by
adampayne
on Jan 12, 2008 at 08:40 AM
The CEO will get $88 million in severance plus an additional $24 million in retirement. He will also be paid a modest retainer (at least $200,000 per year) until 2011. Now that is a golden parachute, and people should be outraged by the payout. This is corporate abuse, that will get scant play here in town even though Countrywide (now B of A) probably is holding the paper on more than 20 percent of all home mortgages here in town. Remember the indignation over Steve Ladd's severance?The big speculation is that the 10% cap of total deposits that one bank can have will be lifted for B of A. The big get bigger while the choices get fewer and most Americans get poorer as the final result. I was surprised to see that Countrywide's overall portfolio is valued at $1.5 trillion with 7% currently pegged as bad debt. That is a sizable chunk of our overall economy in one pot. posted by
sfinboston52
on Jan 12, 2008 at 09:00 AM
BofA will be getting massive tax breaks for years to come for this purchase to hide their profits. We will be paying more taxes due to this deal of BofA.
www.cnnmoney.com for more details posted by
ChicoEsquela
on Jan 12, 2008 at 09:30 AM
What about athletes? ARod...
MLB, NFL, NBA are 501(c)'s......
Taxpayer's (bonds) pay for stadiums
No one cares about that tho......
posted by
ChicaEsquela
on Jan 12, 2008 at 09:33 AM
It's "though" esse. I thought a grammar expert like yourself would have known that. B of A owning Countrywide.....scary.
posted by
sfinboston52
on Jan 12, 2008 at 09:34 AM
I think the teams/corp should pay for the stadiums, but dont think that is going to change.
posted by
Lingtaowoo
on Jan 12, 2008 at 09:35 AM
~Adam~ I stand corrected...88 million for a job NOT well done...not a bad payday
posted by
ChicaEsquela
on Jan 12, 2008 at 09:36 AM
We continue to pay with inflated ticket prices also. posted by
sfinboston52
on Jan 12, 2008 at 09:38 AM
yup amazing how excutive teams make bonuses no matter how the company performs. While the avg work only gets a 3 to7 % annual raise and a if luckly a bonus of 3-15% of their salary.
posted by
ChicoEsquela
on Jan 12, 2008 at 10:00 AM
Murphy
When you asked why Chica is allowed to stay on here..... 2 things....
TBC hatred of me
And
She is one of "theirs"
One......Probably both
posted by
witterpitters
on Jan 12, 2008 at 10:23 AM
Chico: I think I asked this once before but never got an answer..............................isn't what Chica doing called identity theft????
posted by
sagefever
on Jan 12, 2008 at 12:33 PM
TBC hates you Chico?? What the whole lot of them,the editors,the building ,the paper,the blog? Hate seems a tad extreme,just follow the rules, use no personal attacks , and no problem. Or just come back the next day with another of your several aliases. Actually it is the little "a" that saves Chica from identity theft. I do not approve of such mockery but I understand how one might be inclined to do something like that with a "game" player. posted by
jasonspurber
on Jan 12, 2008 at 01:12 PM
You know Chico, If you were to liberalize your outlook on the world like the editorial board and columnists, you and your opinions would be more welcomed here.
posted by
ChicoEsquela
on Jan 12, 2008 at 01:27 PM
I just can't do that Jason
But thx anyway
posted by
JesusSmokedABowl
on Jan 12, 2008 at 01:31 PM
There's no U in Sperber.
posted by
ChicoEsquela
on Jan 12, 2008 at 01:46 PM
Now maybe Jason will chk chica's ISP and 86 her
Some people have to much time in retirement
posted by
sagefever
on Jan 12, 2008 at 01:48 PM
..and no picture of Jason,so clearly another "fun" little elf has infested the boards.Keep an eye out folks apparently it trick and no treat time. Let the Games commence~not.
posted by
witterpitters
on Jan 12, 2008 at 02:09 PM
Soooooooooooooo now someone is impersonating Jason??? oooooooo - wrong move! Even blondes know better then that!!!
posted by
NancyII
on Jan 12, 2008 at 04:22 PM
The games continue.
posted by
ChicaEsquela
on Jan 12, 2008 at 05:01 PM
"Now maybe Jason will chk chica's ISP and 86 her Some people have Your grammar is slipping there esse. Fixed that for you. posted by
bakonative
on Jan 12, 2008 at 05:07 PM
Wow, I've missed a lot lately by not being on the blogs. We have a Jason impersonator and a Chica in addition to ChicaEsquela? BTW, I always thought it was Chico, sorry Mr Esquela.
posted by
ChicoEsquela
on Jan 12, 2008 at 05:32 PM
Thx Mattloch
Didn't "plan" on that one!
posted by
ChicaEsquela
on Jan 12, 2008 at 06:29 PM
You still have no clue.
posted by
ChicoEsquela
on Jan 12, 2008 at 06:58 PM
Vagos wannabe
Harley bouhgt with bad knee
37Act Retiree?
posted by
ChicaEsquela
on Jan 12, 2008 at 07:00 PM
"Vagos wannabe Harley bouhgt with bad knee 37Act Retiree?" Boy you're having a really bad time lately. Grammatically speaking that is. posted by
ChicoEsquela
on Jan 12, 2008 at 07:15 PM
When your pension ends
We'll talk about grammer civil serpent
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