Dick Blumenthal’s Countrywide problem #tcot

From RedState by Moe Lane

Blumenthal indicated “This settlement will cost BofA as much as $8.6 billion, but no cost, not a dime, to taxpayers.”

The Nation calls that a flat lie:

In fact, much of the settlement’s cost has been covered by taxpayers. Bank of America is allowed to use federal incentives under President Obama’s $75 billion Home Affordable Modification Program (HAMP) toward the loan modifications it is required to make as the mortgage servicer for the Countrywide portfolio.

If it walks like a duck….

Ryan Renell

Twitter: @cs_underground

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