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Bank of America Woes Don't Worry John Paulson

By Implode-Explode Heavy Industries

``What Paulson and Tepper are likely really interested in is what role with the Fed takes to buy any toxic loans banks like BofA might be forced to ?put back? on their books. You see analysts think the government doesn?t want banks to be forced to raise more capital, which could happen if they have to take on billions in garbage mortgage loans. They want the banks to EARN through their problems. As a result they are likely already negotiating in backroom conversations how the Fed will engineer their own buy of whatever troubled 'put back' loans our consumer banks get hit with.''

Full post as published by Mortgage Lender Implode-o-Meter on October 20, 2010 (boomark / email).