Quote:
Originally Posted by Particle Man
And why, pray tell, are so many banks so susceptible to IR's and ARM's and stuff? Why so many foreclosures? Oh yes: they gave away mortgages like candy.
Sorry but they have a fairly significant portion of the blame for being so fragile.
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Of course I agree with that. Any business can make bad business decisions that can lose them money, and the ones BoA (and Countrywide before BoA was supposedly strong-armed in to buying them) made were horrendous.
That just further demonstrates that Sixxxxer's contention BoA either makes enough money or has a business model that guarantees profits is silly though.