Archive for December 30th, 2011

windmill … : Foreign Cenbank Holdings to December 28, 2011

…gears, and just for fun consider this recent huff from the land of Cockney rhyming slang: Economist (12/28 ’11): Lexington — “Ron Paul’s big moment” … Even if he wins in quirky Iowa, Ron Paul will never be America’s president. But his coming this far tells you something about the mood of Republican voters. A substantial number like a man who wants to abolish the Federal Reserve, introduce a new currency to compete with the dollar, eliminate five departments of the federal government within a year, pull out of the United Nations and close all America’s foreign bases, which he…
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Countrywide Financial Is Long Dead, But The “Ghost Of Subprime Past” Refuses To Die

Bank in 2008, Bank of America purchased the ailing Countrywide Financial.  This acquisition has turned out to be poisoned pill for BofA, in spite of former CEO Ken Lewis’ optimistic comment at the time of the purchase: “Countrywide presents a rare opportunity for Bank of America to add what we believe is the best domestic mortgage platform at an attractive price and to affirm our position as the nation’s premier lender to consumers,” Lewis said in a statement. MSNBC said at the time: It also places Lewis in the position of a market savior. By buying Countrywide, he’s keeping the…
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