Countrywide Execs Steal From The Poor And Then Steal From The Poor…?
Wednesday, March 4th, 2009
The Really: Is it really okay to sell bad loans and then buy them at a discount to profit from them again?
In a bid to capture the top ranking of #1 Really?!? Moment of the Year, Countrywide Executives that were a part of the firm when they sold loans to people who couldn’t afford them are now looking to profit again by buying up the bad loans at a super low rate. Just think, some people think we are going away from Capitalism…
The report from the New York Times article says “So it may come as a surprise that a dozen former top Countrywide executives now stand to make millions from the home mortgage mess.” We here at BlogReally.com aren’t really that surprised at all. Did We The People really expect the guys who were smart and ruthless enough to sell loans to people who were not going to be able to afford them to stop there? Um…NO!!! Now they have the chance to profit from those same loans twice. One might think there is something wrong with this but in this day and age it’s called smart business. Stay tuned because this is just the start folks.
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