Country Wide

[Babyblue]

I have no problems with the FDIC/taxpayer taking care of the depositors at WAMU up to the guaranteed $100K. The banks pay FDIC for the insurance policies and if the government spents all the proceeds that's not the fault of the depositors.

I did take issue with the FDIC paying the IndyMac depositors 50-cents on the dollar of their deposits over the insured $100K limits What the hell was up with that??

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Because we can pay 50 cents on the dollar. ;-)

 

[AAbsolute]

Because we can pay 50 cents on the dollar. ;-)

How does that work? What can we pay 50 cents on the dolar for in this case?

 

[AAbsolute]

Quoted from Santiago "They have to make a decision based on their loan loss reserves, capital, current income and amount of current income that is being reserved each month for losses, among other things. They also have to factor in future expenses of holding said property, and decide what makes the most sense. The larger well capitalized banks in many cases are saying, f... it, lets get this behind us and start making money again. There is a lot more to it than whether or not AAbsolute thinks its "shady" or not. Its called business."

I was just reading the Driftwood thread. Your above quote to me kept ringing in my ears. If the Developer can legally win the case or bury A. Osborne and Driftwood to gain advantage isn't that "called business".