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View Diary: Big Trouble in Limbaugh Land (77 comments)

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  •  My Question Is How Do They Keep Getting Loans (2+ / 0-)
    Recommended by:
    Richard Myers, ColoTim

    It's bad enough that Bain is basically committing fraud, i.e. the "how is this not illegal" part, but why are/do banks keep lending these companies money?  Its not like we don't all know Bain's MO.   Of course the bank gets fees etc, when they make these huge loans but to what do they do when Clear Channel/Bain defaults on the $10B loan?  

    Poor man wants to be rich. Rich man wants to king. And the king ain't satisifed until he rules everything. B.Springsteen

    by howd on Tue Oct 16, 2012 at 03:03:16 PM PDT

    [ Parent ]

    •  Get paid back by the government for the full (3+ / 0-)
      Recommended by:
      Richard Myers, lighttheway, howd

      value of the loans.  I don't know that for a fact, but it seems to me the bosses at the top know how to work those angles for themselves.  Stick the taxpayers for it all.

      •  They also resell the loans that lumped together (2+ / 0-)
        Recommended by:
        howd, ColoTim

        and packaged as derivatives.  Yes, its still happening.  The banks only need to hold a small percentage of loans on their books, the rest are sold as investment grade securities.

        Expose the lies. Fight for the truth. Push progressive politics. Save our planet. Health care is a right, not a privilege.

        by lighttheway on Tue Oct 16, 2012 at 04:22:27 PM PDT

        [ Parent ]

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