Bank of America has agreed to set aside $14 billion to settle claims stemming from sales of mortgage-backed securities. Nelson D. Schwartz explains how the bank will come up with the cash.

Category: Legal, Video

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3 Responses to “Bank of America’s Big Settlement”

  1. uzer says:

    John Q. Public explains how boa will come up with the cash: why oh ewe

  2. chris whalen says:

    This is not a settlement. More like an opening bid. And somebody grab Nelson Schwartz and Eric Dash at the NYT and tell them to remember to read the fine print. This “announcement” yesterday by BAC is a fraud. There is no substance to this announcement. Hope, maybe, possibly in a couple of years. The media should be far more critical of the claims in this announcement and the timing of the actual close of a settlement by the court. Chris

  3. emaij says:

    “If corporations are going to be considered ‘persons’, let’s apply the three-strikes law to them. In most states, criminals lose civil rights. If corporations are guilty of violations, take away their ability to make political contributions.”

    - Bill Black