Quote:
Originally Posted by notime
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Despite bailout, AIG reports massive loss
American International Group reported a stunning $62 billion quarterly loss today
http://money.cnn.com/2009/03/02/news.../aig/index.htm
This is all BS! These banks have made so much money.
They get the Bailout money for these bad house loans.
They get to keep the houses and resell them!
They get to still run collections on the difference on the inflated house prices that were foreclosed on.
Example. My friend couldn't pay, his house was sold for $60K less than he owed.
The Bank received a bailout for this bad loan, the bank has the house, and the bank says my friend owes them $60k still.. man talk about getting paid Several times..
Just my rant about Banks....