Two summaries of news articles caught my attention this morning, courtesy of The Washington Post...here they are:
"The Greek parliament on Wednesday approved a controversial package of tax hikes and spending cuts, clearing the way for $17 billion in international emergency loans needed to stave off a possible default. The party-line vote gives Prime Minister George Papandreou a critical victory in the midst of crisis talks with other European leaders and the International Monetary Fund."
"NEW YORK — Bank of America and its Countrywide unit will pay $8.5 billion to settle claims that the lenders sold poor-quality mortgage-backed securities that went sour when the housing market collapsed. The Charlotte, N.C., bank says the settlement with 22 investors is subject to court approval and covers 530 trusts with original principal balance of $424 billion."
Do you realize that BAC could have covered 1/2 of Greece's emergency loans? Perspective...a strange thing indeed...
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