Independent Light: Bank of America

Wednesday, February 25, 2009

"Countrywide" Goes the Way of "Blackwater"

Run you life and that of others into the ground and then simply change your name. Too bad we can't all do that.

Source: Wall Street Journal (sub req'd), February 18, 2009

Countrywide Financial, the company infamous for its role in the subprime mortgage crisis, is now called "Bank of America Home Loans." Bank of America, which purchased Countrywide in July 2008, is using the name change "to separate itself from Countrywide's reputation," reports the Wall Street Journal. "The company hopes the new brand will simplify its relationship with customers while also emphasizing that Bank of America is a 'responsible lender' and 'accountable' for sustained home-ownership." Bank of America is also trying "to showcase its contributions to an economic recovery after receiving $45 billion in U.S. aid." Ironically, "new mortgage applications" are "one of the few bright spots in banking right now," since the collapsing economy had led to low interest rates. Bank of America "plans to hire about 1,000 people" for its newly-renamed mortgage unit, "and move 500 employees to mortgage processing from home-equity processing."

Let The Sun Shine In......

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Our New Mission

We are attempting, here at the Pelicans' Nest, to help the community find what we can agree on and pay less attention to that on which we will probably never agree. Just moderate to very liberal/progressive American independents cannot seem to get their act together.

Up until recently, I'm not sure anyone knew we even existed in such large numbers. I could have told the media, had they been listening. We had people like Tucker Carlson running around spouting his b.s. about independents being right-wingers. Now all Tea Partiers are citizens of Wingnuttia. NOT TRUE.

Some of these folks have the same concerns that many of us have had for years:

1) Bailing out the banks and other large and largely irresponsible corporate institutions with no financial reform in sight?

2) War crimes continuing in Iraq. It started as a war of aggression and it will end as one. Let's get out responsibility. Let's capture Osama bin Laden and all of the rest of the people who are responsible for the events of 9/11 and the anthrax attacks. Isn't that why we went into Afghanistan?

3) I can't think of a single solitary soul who likes taxes. Most of us can agree that taxes need to be levied and spent in such a way that it will do the least harm and the most good, especially to the "least of these." Without all the mis and disinformation campaigns, we would probably come much closer to agreeing on how that could best be achieved.

4) Domestic spying. I well remember when the cat was let out of the bag about domestic spying. There were howls from Libertarians and well as Liberals and Progressives.

5) I would be hard pressed to join the tea bagger movement for the simple reason that I have seen guns at political rallies as well as some fairly disgusting, racist signs among the crowd and some fairly insane people have been backing these rallies along with corporate interests for whom I have zero respect.

There are other issues about which many of us have some some concerns. I just can't go along with the tactics.

Nevertheless, I believe that it is time for a civil conversation, when possible, at least between left leaning independents.

As we sit here and seemingly watch our country move closer and closer to catastrophe, our mission is simple but not so easy; peace in America and the world. Join us if you have an interest.

Independent Light

Wednesday, February 25, 2009

"Countrywide" Goes the Way of "Blackwater"

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