Bank of America bailed out again, but You won’t hear about it on the NEWS…

secret bank of america bail outBank of America received special treatment from the Federal Reserve last year that amounts to a multi-billion dollar bailout. The Federal Reserve of New York decided not to prosecute BofA for bad securities acquired in the AIG deal, though the prosecuted other entities for the exact same securities. Does the Fed think they can do this stuff and get away with it? How many other back-room deals are taking place? Do you know what it looks like when the Government starts deciding what companies succeed and which ones don’t? It’s not pretty… Check out the full article from CNBC here.

In studio today, Jon Jerotz with Guaranteed Rate, a San Diego Mortgage Expert. We talked about the future of bonds, interest rates and answered several emails in the Ask Mr Credit Inbox

02-18-13 Mr Credit – Full Show



Categories: Buying Real Estate, Foreclosure, Government Absurdity, Loan Modification, Mortgages, Radio Shows, Reverse Mortgage, San Diego Real Estate Market

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