Tag Archives: merrill lynch

Burt Reynolds Defaults On His Mortgage

When I started paying attention to movies in the late 1970s and early 1980s, Burt Reynolds was a big star. One of the first movies I ever saw in a theater (at age 16, I grew up a Seventh-Day Adventist, … Continue reading

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America’s Biggest Bank Is Bank Of America

Bank of America become so big thanks to some unwise acquisitions in 2008 — principally Countrywide and Merrill Lynch. The Countrywide purchase made Bank of America the nation’s largest supplier of mortgages but this came at a huge cost. Bank … Continue reading

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Bank Of America Still Cleaning Up Its Countrywide Mess

Bank of America originates more home mortgages than anybody, thanks to its 2008 purchase of Countrywide for $4 billion. Since then, Bank of America has shelled out $30 billion to settle claims related to Countrywide. Bank of America also took … Continue reading

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Bank Of America’s Mortgage Woes

Bank of America owns more mortgages than any other lender. Given the depressed state of the mortgage market, would you like to be in this position? I would not. Bank of America must be ruing its purchases of Merrill Lynch … Continue reading

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Bank of America Loses Another $5 Billion On Countrywide

Bank of America must be kicking itself for its acquisition of Countrywide and Merrill Lynch. These buys have only cost them about $50 billion and who knows how big the Countrywide loss will go? The Los Angeles Times says: Implicitly … Continue reading

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Bank of America Still Ruing Its Purchase Of Countrywide, Merrill Lynch

Those two buys set Bank of America back tens of billions of dollars. Its stock holders must be screaming. Might’ve been the right move for the United States of America but these were not the right moves for Bank of … Continue reading

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Will Debt Problems In Greece, Portugal and Spain Hurt You?

Yeah. We live in a global village. It sounds like Germany is underwriting bailouts of Greece. Germany is the European country best situated to ride out this storm. Remember how the Bush administration kept assuring us in 2007 that the … Continue reading

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Let’s Nationalize City – We Own It Anyway

If we nationalize Citi, we can then offer new mortgages and credit cards and other loans. A lot of people are talking about a national bank to buy toxic assets to free up lending. Sheila Bare of the FDIC is … Continue reading

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You Should Care About The Bailout

Report: When borrowing money to purchase a house, the loan taken out from a bank or finance company is called a mortgage. The bank or finance company that owns the mortgage might sell the loan to another bank or finance … Continue reading

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Lehman Brothers Selling Mortgage Securities

From the New York Post: In a move similar to what Merrill Lynch has done, Lehman Brothers’ CEO Dick Fuld is trying to shop tens of billions of dollars in mortgage securities on its balance sheet in order to reduce … Continue reading

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