14 January 2008
We Are All Paying for Bank of America's $4.1 B Acquisition of Countrywide
Really, we are, because for this ill-conceived venture, we are giving BofA can deduct $270 million a year for the next 5 years.
That's $1.35 billion in the first 5 years, and if Countrywide's losses are bigger (and they are), they can deduct the rest year 6.
That's $1.35 billion in the first 5 years, and if Countrywide's losses are bigger (and they are), they can deduct the rest year 6.
Labels:
bubble
,
Business
,
Corruption
,
Economy
,
Housing Crash
,
Taxes
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