Bank of America buying Countrywide

Nothing to fear the Bank of America will continue to give Illegals credit cards and raise the interest rates on the ones they issue to Americans. We all know the American tax payer will foot the bill when no body else will.

Nothing to fear the Bank of America will continue to give Illegals credit cards and raise the interest rates on the ones they issue to Americans. We all know the American tax payer will foot the bill when no body else will. They will be able to seel the homes they forclose on to the Illegals by allowing them to purchase it on the credit card they gave them and it a win win for Bank of America. Hit the button too soon. Bank of America is part of the problem, and many other banks that feel 29 per cent rate on a credit card for one day late is fair.
Interest rates are lower then ever but banks are attempting to be bailed out by raising the credit card rates on all who have them Let them sink in the holde they helped to make. Cut up the cedit cards and move your money to a locat credit union or hometown bank.

It should be called "Bank of Amigo"

America wrote:

Nothing to fear the Bank of America will continue to give Illegals credit cards and raise the interest rates on the ones they issue to Americans. We all know the American tax payer will foot the bill when no body else will. They will be able to seel the homes they forclose on to the Illegals by allowing them to purchase it on the credit card they gave them and it a win win for Bank of America. Hit the button too soon. Bank of America is part of the problem, and many other banks that feel 29 per cent rate on a credit card for one day late is fair.
Interest rates are lower then ever but banks are attempting to be bailed out by raising the credit card rates on all who have them Let them sink in the holde they helped to make. Cut up the cedit cards and move your money to a locat credit union or hometown bank.

I'm sick of people blaming the credit card companies. It shouldn't matter what they do, people need to assume they will do the worst and therefore not spend money they don't have. Cut the cards up now, pay them off and don't get another. Credit cards and the instant gratification they provide ruins people and it's their own fault.

here is a company...countrywide which was very profitable..then against all GOOD BUSINESS SENSE...got very greedy.they sold ,to people who could not afford it,tricky mortgages...and now.on the brink of collaspe.need a bailout.i wonder how big the profit margin was during this period of supposed tremendous growth?the ceo and stockholders reaped huge profits...and now that the house of cards is falling they cant take the hit.its easy to see who is destroying america.

jones wrote:

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I'm sick of people blaming the credit card companies. It shouldn't matter what they do, people need to assume they will do the worst and therefore not spend money they don't have. Cut the cards up now, pay them off and don't get another. Credit cards and the instant gratification they provide ruins people and it's their own fault.

Not to mention, pay your payment on time and they can't charge you 29% as you insinuate they do. I wouldn't know because I don't pay mine late.

No matter what, it is and always will be about the big companies committing rape on the the little people.

Credit will ruin this country for a time, just like in the crash of 1929. Their are more safety valves than at that time, but the real problem is credit. It all started with the Federal reserve bank, a Privately owned entity. It is not a government owned bank. They buy paper and ink from the treasury dept., print money, than loan it to the US with interest. Then the banks loan it to the people with higher interest. got that??
Now, if you don't pay your mortgage, the banks can't pay the federal reserve, a PRIVATE BANK. Then the govt, owes more to the federal reserve, which is our national debt. So you see , the govt is in a tight spot because if the banks don't pay, THE GOVT., is in real financial trouble. The money we pay in taxes every year , doesn't even cover the INTEREST on the national debt. Answer, print more money, borrow from Federal Reserve Bank, go in more debt. The government tells us to save and pay our bills on time, while they just borrow and spend like their is no tomorrow. Guess what, Countrywide found out the hard way, tomorrow is here. Who's next?????

sorry, I meant There, everytime I wrote their.

JRR wrote:

No matter what, it is and always will be about the big companies committing rape on the the little people.

I can't and won't dispute that but we might as well get used to it. It is the way of the world.

Complaining and whining about it won't change anything.

People need to take charge of their life and quit letting this happen. It's easy, pay cash instead of going into debt up to your neck.

What is this going to do to my mortgage? That truely is what people care about...I have second that is adjustable, will Bank of America screw me and raise that to like 15%? I knew that I should have paid that off first! Luckily, I do not use credit cards, if I cannot pay for it, I do not need it!!!

Bank of America was persuaded by the Feds to buy-out Countrywide. If it goes sour, the taxpayers will bail Bank of America out. It's a win-win for Bank of America, and the U.S. taxpayer gets screwed again. The Feds will do the only thing they know how to do, and will print more dollars. And this only postpones the inevitable. Hang-on, it's only going to get worse. Wait till we have $4, then $5 gasoline. Think about it, the largest mortgage provider in the U.S. is on the ropes of bankruptcy. Can't be a good omen, no matter what transpires.

Concerned wrote:

What is this going to do to my mortgage? That truely is what people care about...I have second that is adjustable, will Bank of America screw me and raise that to like 15%? I knew that I should have paid that off first! Luckily, I do not use credit cards, if I cannot pay for it, I do not need it!!!

You Nit Wit. You obviously have no idea what you signed when you took out a second mortgage. Did you even look at what you where signing? Adjustable rate means your payment will change. Fixed rate means your payment will not change. You are a prime example of why many people are blaming others for your stupid mistakes. Go pull out your mortgage documents and study it.

First credit was extended to many who perhaps should not have had it. That was by baiting APR is not always what it seems. Read the fine print people. Second there really has been late posting not the fault of the cardholder but to raise the rate. Court cases have proven that.
Not sure Bank America had any choice but to purchase as it had committed two billion before purchase. I to would ask where is the money that was made when times were so good. Third all the major banks are now barrowing from overseas, selling out America for greed. Inflated home prices were caused by the banks and lending companies who wanted to get citizens to sign and gave credit. I do agree that local banks and credit unions understand their customers better but believe we are past that point. We are going to see American citizens tossed out and land and holding sold to other nations. It happened in Hawaii;Japan owns most of it. The good advice is cut up the cards move your money out if you have any on deposit and tell the Bank to let Mexico pay the bills wiht peasos. Banks like Bank of America are like our government they think the taxpayers wil alway be willing to pay what they demand.

Mike wrote:

<quoted text>
I can't and won't dispute that but we might as well get used to it. It is the way of the world.
Complaining and whining about it won't change anything.
People need to take charge of their life and quit letting this happen. It's easy, pay cash instead of going into debt up to your neck.

So True. Keep it simple.

bank of america will screw anymore who has loan with countrywide because their are the bank. countrywide are still giving away loans and they know people can't afford the intrest rate or they just can't afford it at all. the hell with bank of america they haven't even been around that long. fuck you bank of america, and countrywide need to get themself together, you never let a bank buy you out or take over the company, that bad news for the people who trusted countrywide, banks can do what they want to do and can get away with it.

bank of america will screw anymore who has loan with countrywide because their are the bank. countrywide are still giving away loans and they know people can't afford the intrest rate or they just can't afford it at all. the hell with bank of america they haven't even been around that long. The hell with you bank of america, and countrywide need to get themself together, you never let a bank buy you out or take over the company, that bad news for the people who trusted countrywide, banks can do what they want to do and can get away with it.

The bulk of the US has no idea how fragile our economy is. A few serious blows and there go the domino's. They assume that since they've always had it good in their life it always will be. A lot of people out there are closer to being homeless than they would ever realize. People need to quit buying big screen T.V.'s, spending money they don't have and prepare themselves if it hits the fan someday. But, that will never happen until they learn the hard way. The farther we get from the generation that went through the depression the worse it seems to get.

Just my views not saying they are right so get mad what ever but act.The American Citizen who votes is going to need to really dig in and obtain the real truth of what is taking place in our nation. At the present we have a banking crisis coming our way. Bank of America and several other major banks are in trouble. Credit has collapsed and foreclosures are rising. Credit was extended to many who did not handle it well. The APR was not always the annual percentage rate as many thought. It was the adjusted periodic rate on the card. Now many for whatever reason are seeing their credit cards eat them alive on interest some over loan sharking rates. Who come out ahead in a recession? The banks they regain control of the land and everything of value. Real estate taxes ensure the property will be sold when taxes are not paid. The bank decides who will have the funds to purchase the land at a tax sale. This is one reason the real estate taxes need to be done away with. No one should be paying taxes on a home all their life and then failing once to pay the tax sees it sold the bank will take it if you miss payments. You can as a citizen have no control of money supply only the government and banks do. None of us own our land now so if conditions get to where we cannot afford to purchase gas, pay our bills we are all in danger of seeing our land lost. You can plan all you want to see it does not happen but it can happen to us all. Some get joy seeing some people fail, but when well goes dry for other citizens it affects us all. We have become a nation of entitlements where out elected feel good by taking money from some to give to others.
We have failed to demand our nations borders be secured, allowing many to enter and take work without paying taxes. Our founding fathers were freeholders they really owned their land. Not anymore and because we do not the elected rule us by fear, fail to pay your taxes we will take your land.
The elected officials in both parties understand and agree that property taxes are the most stable, the reason being everyone will go without something else to keep their home from going to tax sale or foreclosure. That is not government by representation that is government by fear. Register and vote and find a candidate who will do away with real estate taxes completely and secure our nations borders. It will and can return us to a sound financial base and we will be seeing America grow again. If it does not happen we will see our nation fall from leadership in the world and be controlled by greedy banks and government out of control.

Carl Hoffman wrote:

...That is not government by representation that is government by fear. Register and vote and find a candidate who will do away with real estate taxes completely...

I agree, we don't own our land, we rent it. It's amazing to me that in this "land of the free" a family can't just live on a farm they have paid off, they have to keep paying the gov to keep it.