Many years ago in the fairy tale [or is it fraudulent tale] land of USA, Bank of America bought many people's houses for $350 = a low price dac = an expensive dinner. The largest mortgage lender, Countrywide, held $2 TRillion of mortgages, and the market collapsed. USA government [greasy palms] allowed Bank of America to buy the mortgages for $4 billion. So Bank of America paid $1 for every $500. of morgage. Let us not forget that USA gave Too Big To Fail Bank of America $20 billion to do the deal.
I want deals like this: pay $1. get $500. back. Actually more with the $20 billion.
iridium.
