Saturday, October 30, 2010

If you don't vote... can't bitch.

So on November 2nd... VOTE!!

Saturday, October 23, 2010

100,000 in 3 weeks?

Bank of America (BOA) claims it has gone through 100,000 of its contested foreclosure documents in 3 weeks.


Let's break this down.

Let's give BOA the benefit of the doubt and say they worked on this 24/7. If so, and we have 504 hours in three weeks (21 days), they would have had to go through 198 documents per hour.


What if they only worked on this Monday through Friday, but did so for 24 hours every day? This is a total of 15 days, so this would be 360 hours, which means they would need to wade through 277 documents every hour.

Now let's get real.

Let's say BOA is like any other company that hates paying overtime, so they would have people work on this no more than 8 hours a day, 5 days a week. This is a total of 120 hours, so they would have had to verify a whopping 833 documents every hour to get through all 100,000.

Whatever the scenario they actually used, do they really expect people to believe anything they say after their credibility has been so completely hammered by their previous behaviors?

And, did they not find a single questionable mortgage document in all 100,000?


Wouldn't it make at least some sense to see if at least some of these 100,000 cases could actually be modified such that at least some of these people could stay in their homes and continue to make payments?

This way BOA could continue to generate revenue, which would mean stockholders could continue to be happy, and which would mean BOA could legitimately claim to be the "Bank of Opportunity" rather than appearing to be just one more opportunistic, atavistic US corporation.

And let's not forget that BOA wrote these $%#!ing mortgage loans to begin with, so don't they share some of the blame?

After all, a BOA is a snake that squeezes the life out of its victims. Coincidence? Hmmm...

Update: 10/25/2010
Update: 10/26/2010