Good for Coakley, and how typical of a bully mtg company to take it's powerful and abusive toys and go home.

It is interesting to look at the huge number of paid posters on this article on the Boston.com board while there is very little here. You would think that with all the taxpayer bailouts and 8 trillion from the Fed in no interest loans that they would pay the subscription fee to saturate this board.

Great. Let's run off all the lenders, force the rates up higher and make it even harder to get a loan. These companies bought the loans, they didn't originate them. If Coakley wants to sue somebody, she should go after the originators. Of course there is no political hay there. Also, this is another example of how government is continuing to play a shell game with the problem of underwater mortgages which must flush out for us to move on. You can't expect the holders of these mortgages to just roll over and hemorrhage billions of dollars in losses. It's just not realistic.

Coakley's actions are not in the best interest of the residents of this state. The mortgage crisis was a systemic problem in the system that started with loosening of minimum requirements to secure a mortgage ( thanks Barney ). Singling out a few companies that will now pull out of the state is not the way to approach this.

As indicated in the article, GMAC had already announced that it was reducing its secondary market purchasing, as has BOA. So, Ally/GMAC is just using this as an excuse. Not to worry, where's there's a niche, someone else will rush in. All of this is just the system sorting itself out.

Good for GMAC for standing up to a typical Massachussetts political shakedown designed to gain votes for the AG and support from the anti-business activists who could care less about the continued erosion of the business climate in Mass.