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Did Bank of America Write the Housing Bailout Bill?

Posted on June 22, 2008

We call it the 'Bank of America bill on steroids.' -Anonymous House staffer The staffer was referring to the Dodd-Shelby bill that would let mortgage lenders off the hook for bad loans, ultimately shifting the burden to taxpayers. The Bank of America paper referenced is this document, a PDF marked Confidential and Proprietary, titled the FHA Housing Stabilization. This was first picked up by the NY Examiner, followed by the National Review Online, who noted that the similarities between BofA's ideal bill and the bill before the Senate are obvious. Then lastly, an LA Times blog, LA ...

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blog , housing , online