Now that Countrywide has been acquired, Florida wants some of that Bank of America money!

“There is technically a deep pocket. They’ve acquired them, they assume their liabilities,” Florida Attorney General Bill McCollum told journalists on a conference call.

[Reuters]

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  1. Wormfather is Wormfather says:

    As a consumer I hate BoA

    But as an investor, I have no doubt that all of this was taken into consideration. They didnt become the biggest bank (percent of deposits) by being stupid.

    They were the only bank that wasnt shattered in the Sub Prime Scandal and have plenty of cash on hand.

  2. Chairman-Meow says:

    Ohhhh, just wanna bet that buried deep within the Countrywide / BOA / Government Bailout paperwork there is a teensy-weensy clause that claims that BOA is exempt for any liablility from Countrywide ?

  3. fostina1 says:

    ive been with bank of america for 8 years. first 6 years just checking as my employer required direct deposit, and boa was next door. when it was time to buy a house they were the only ones willing to finance me with a fixed rate. so they got that piece of pie to. with the house payment automatically withdrawn twice a month, the day after payday, i never have a late fee. i signed up for overdraft protection and got a credit card with a 5k$ limit without even applying. i get a free safety deposit box, i have free checking and savings, i dont have a limit on transfers from savings (some law requires a maximum of transfers / month). the woman who worked with me to get the house loan told me to consider her as my personal banker, and the one time i did have a problem she was able to quickly get it settled. i love BOA.

  4. muffinpan says:

    @fostina1: I’m glad you had a good experience with BOA. Anyone else, Anyone, Bueller…Bueller

  5. u1itn0w2day says:

    Florida and California being 2 of the warmer states was a prime target for the FLIPPERS who wanted to sell to those who wanted out of a cold state.Throw in a lot of new citizens and you had an abnormally high demand for homes including the flip homes-for a while til they to realized they were being raped on price.Still say the flippers caused most of this and should not get any assistance.

    And the governments who became addicted to those artificially high tax paying owners should just realize that government should downsize as well.

    Prosecute for CRIME and set up regulation so it doesn’t happen again but do NOT let the speculators off the hook along with alot of others who miraculously got a mortgage from these toads when nobody else would give them one-for a reason.

    Scary part is I still think a high percentage of these creative mortgages are still being paid so they obviously helped someone.

  6. Vulpine says:

    @Wormfather is Wormfather:
    Guess why.

    Maybe because they weren’t in the mortgage business at the time?