Bank of America = The peoples bank
It’s hard to believe this bank was started by an Italian that was looking to be able to loan to be people that other banks wouldn’t loan to.
No shit? Entitlement is when you are too big too fail and the government gives you BILLIONS to remain solvent. Hardship is when you fuck the people you give loans too by not lending them the money the government gave you to keep the economy moving along.
A progress report released last week by the Treasury Department showed that only 11 percent (about 95,000) of Bank of America’s delinquent borrowers who were potentially eligible for the program had been given a loan modification. That compares with 27 percent, or 117,00, for J.P. Morgan Chase, and 33 percent, or 68,000, at Citigroup, the Treasury reported. The figure for Saxon Mortgage Services, which is owned by Morgan Stanley, is 41 percent, or 32,000.
Anyone venture to guess how many of those banks are located in Wilmington? Wanna guess how much money they give to Carper, Castle?
Even after top Treasury officials called in industry leaders for a series of meetings on the program in July, chastising them for their poor progress,
WHAT! OMG, they chastised a half trillion dollar bank. “Tisk, tisk boys (yes BOYS) you musn’t fuck over American citizens” That should show them a real lesson they wont want to repeat. That would be an example of Entitlement.
the foreclosure crisis continues to worsen. Borrowers are becoming delinquent on their mortgages at record rates, and rising unemployment rates are exacerbating the problem, economists say. Already, 4.4 million borrowers have lost their home since the mortgage crisis began in 2007, and another 2 million will this year, according to Moody’s Economy.com.
That would be the Hardship part dickheads?
Kevin McFarland, a former Marine Corps sergeant, said he has repeatedly submitted his documents since late last year when he began pressing for a mortgage modification. Several times, McFarland said, he was told the documents were nowhere to be found. After submitting the documents in August for a fifth time, McFarland is still waiting for a ruling.
Bank of America said it is still reviewing McFarland’s case and has acknowledged problems with its faxing system.
LMAO. You think this would be on FOX right? A Veteran! Served his Country! A real Patriot! Problems with it’s faxing system? Hilarious. Yep, let the market decide. The next time this patriot gets a mortgage, he can go to another bank. That will show B of A! Until of course that other bank bundles his loan and sells it to B of A. Wooohoooo, the invisible hand!
What a joke. I wonder if any local Delawareans have tried to modify their loans and been turned away? Wonder if they want to share their stories? Email me. I’ll be happy to post them. Send me a video and we can stage our own revolt in Delaware. You know where every corporation is practically incorporated.
You are right to point out the bad actions of many banks. They have gone from too big to fail and now they are too big to regulate.
Sad to say they got a lot of money on a failure model. The hopes would be people would fail to pay credit cards on time, fail to pay mortgages because they covered their bets with financial instruments and all in all got great government money (1%) and loan it out sparingly.
Mike Protack
A republican in favor of regulation?
Mike, are you saying you are in favor of bank regulation?