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View Full Version : Bankers Profit from Bad Loans



hazlnut
03-04-2009, 03:56 PM
"Stanford L. Kurland, Countrywide’s former president, and his team have been buying up delinquent home mortgages that the government took over from other failed banks, sometimes for pennies on the dollar. They get a piece of what they can collect."

http://www.nytimes.com/2009/03/04/business/04penny.html

This reminds me of the story about an arsonist who was a general contractor.

"I see you had a fire. Here's my card."