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Did Bank of America Write the Housing Bailout Bill?
June 21, 2008 10:07 AM   RSS feed for this thread Subscribe

Grab the Pitchforks and Torches, Bank of America Writes Bailout Bill. Marked Confidential and Proprietary, the Bank of America document essentially writes the Dodd-Shelby housing bailout bill. Of course, since Senator Dodd received preferential treatment from Countrywide CEO Angelo Mozillo, is anyone shocked by any of this? The document points out that Ginnie Mae should be the government entity that backstops bad loans. Of course, since Ginnie has an explicit mandate from the Feds, that means taxpayers will be on the hook for hundreds of billions worth of bad loans. Read through some of the recommended taking points and marvel at how our democratic process truly works. I'm pissed.
posted by tgrundke (6 comments total)

This post was deleted for the following reason: Rushed post plus telling us how you feel adds up to not really a great way to post to the front page. Maybe build in some proper context for what's going on, drop the editorializing, and try again tomorrow when you're not running out the door? -- cortex



Pardon the spelling and format...I'm on my way out the door for the day.
posted by tgrundke at 10:10 AM on June 21


PISSED I say!
posted by tachikaze at 10:19 AM on June 21


I'm on my way out the door so I can't read your links. I have pissed for the day.
posted by found missing at 10:21 AM on June 21


Tell us how ya feel, son.
posted by katillathehun at 10:25 AM on June 21


Pitchforks and torches, but not axes? Get with the times.
posted by dw at 10:30 AM on June 21


So the document writes the bailout bill? Was it written before the bailout bill, or after? Instead of dumping a document on us of unknown provenance and implying the bank wrote the bill in exchange for a nice mortgage, why don't you lay some reasonable groundwork to support your implied allegations. Flagged.
posted by procrastination at 10:31 AM on June 21


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