B of A/Merrill Lynch and the Countrywide poison

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Dec 6, 2010 3:19 pm

Wiki Leaks purports one of it's primary targets to be B of A, or.. the buyer of the former once powerful Countrywide Mortgage Corp. Soon to be released documents are supposed to show:

1) Countrywide originated docs about to be 'released' are very damning to former Countrywide Execs or anyone/B Of A who bought the the company. Ie... documents show loans originated by Countrywide- assigned to B of A, etc.

2) Via acquisition and resale in the market; B of A is complicant in the massive defrauding of both private borrowers and those who bought notes/receivables via MBS, etc.

3) B of A &  ML could be on the hook for BILLIONS of dollars at the end of the day as well as responsible for any fraud committed by the actual lousy loan officers, managers, underwriters, etc who are mostly no longer employed at b of A or ML. 

How does ML who did little of nothing of this CRAP business, defend and differentiate itself from the legacy Countrywide business??? How does ML shake this impending garbage off it's brand???

Dec 6, 2010 3:24 pm

ML has enough of it's own miss dealings proir to BAC taking over.

Neither firm can be trusted!