10.19.2010

Will Countrywide sink B of A?

Ah, poetic justice.

The Dirty Fed is now trying to force a repurchase by Bank of America of fraudulent mortgages that were serviced by Countrywide and sold to Bear Stearns which collapsed and whose crap assets were backstopped by the Dirty Fed's off-balance sheet scam called Maiden Lane.

We tried to warn country bumpkin Ken Lewis, over and over, not to buy the steaming pile of crap known as Countrywide, but he just wouldn't listen.

I wonder if George Bowser Jr. of Seeking Alpha still thinks that Lewis "added enormous shareholder value."

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