Nice!

[galileoreloaded]

http://www.cnbc.com/id/44088147

BofA Sells Mortgage Portfolio to Fannie Mae: Report

[nc4bo]

1. Someone clear this up.....are these "good" loans or

the really sleazy ones.

Article doesn't say :shrug:.

[n2doc]

3. I will lay money that they are subprime or underwater loans

Because the good ones would be ones B of A would want to keep.

[nc4bo]

7. Nice how the article leaves out that minor detail.

I'm not surprised and figured our backs would be weighed down with more burdens from crooks and swindlers.

[DURHAM D]

8. Exactly. My pockets are already turned inside out.

I ain't got no mo money to give the banksters. But, maybe my fellow tax payers are down with this.

Oh wait - we don't have a f*ckin' choice.

Can't wait to see B of A bonus schedules for these executives that worked so hard to screw us.

[n2doc]

2. Wonderful. So now the taxpayer gets to eat all of that crap

Wonder what we 'bought' ?

[nc4bo]

4. If thee giveth a sh*t sandwich, thou shalt receiveth a sh*t sandwich

and get dress it up all pretty and stuff with argula and fake crabmeat on a silverplated platter and serve to the taxpaying public who just might believe they're eating the really good stuff.

[valerief]

5. In other words, a bailout for BofA. nt

[slackmaster]

6. I'll bet dollars-to-donuts that my high-grade former Countrywide mortgage isn't included

Because I always make payments on time, have a strong positive equity position, and excellent credit.

But as a taxpayer I get to eat a share of the giant shit sandwich anyway. What a wonderful reward for a lifetime of fiscal restraint and financial responsibility!

:kick:

[marmar]

9. Sounds like a back-door bailout for BofA

nt

[DURHAM D]

10. I assume that this paper movement has something to do with the fact

that Fannie has a more streamlined method of foreclosure.

What we need is a new HOLC.

http://en.wikipedia.org/wiki/Home_Owners'_Loan_Corporation