"Lawsuit deals setback to Bank of America as it tries to put mortgage woes in past" by David S. Hilzenrath, Washington Post / January 1, 2011
WASHINGTON — Bank of America’s hangover from the housing bubble could be harder to shake in the new year as a result of a recent court decision.
Aren't they making billions in profits per quarter?
Were they fraudulently foreclosed upon?
The whole framing of the issue proves it's a banker's paper.
The bank lost a major procedural ruling in a lawsuit over its liability for allegedly toxic mortgages. The ruling will make it harder for the bank to defend itself in that case, and it could set a standard for similar disputes....
Yeah, POOR FRIKKIN' BoA!
They JUST HAVE YOUR HOME to BACK UP the BAD PAPER from which they BENEFITED!
Lenders are confronting demands that they buy back billions of dollars of loans from investors....
That's why Bernanke has that printing press running full steam and why banks want to foreclose on homes. They need the hard assets, not a bunch of promised paper that will be worthless through their own actions to placate Europeans and others who got ripped off.
Related: Oil prices fall, but gasoline rises
Yeah, it is also why the price of gas is flying through the ceiling when it should be dropping during the post-holiday season.
MBIA’s suit focuses on loans issued by Countrywide Financial, a mortgage lender that was taken over by Bank of America. When Countrywide pooled loans into securities and sold them, MBIA provided insurance.
In the suit, MBIA is trying to recoup money it has lost to make good on its insurance policies.
Just wondering why AIG didn't sue.
--more--"
Related: Goldman's Switcharoo on AIG
Also see: MBIA might again insure muni bonds
Don't they ever learn?
Aren't they making billions in profits per quarter?
Were they fraudulently foreclosed upon?
The whole framing of the issue proves it's a banker's paper.
The bank lost a major procedural ruling in a lawsuit over its liability for allegedly toxic mortgages. The ruling will make it harder for the bank to defend itself in that case, and it could set a standard for similar disputes....
Yeah, POOR FRIKKIN' BoA!
They JUST HAVE YOUR HOME to BACK UP the BAD PAPER from which they BENEFITED!
Lenders are confronting demands that they buy back billions of dollars of loans from investors....
That's why Bernanke has that printing press running full steam and why banks want to foreclose on homes. They need the hard assets, not a bunch of promised paper that will be worthless through their own actions to placate Europeans and others who got ripped off.
Related: Oil prices fall, but gasoline rises
Yeah, it is also why the price of gas is flying through the ceiling when it should be dropping during the post-holiday season.
MBIA’s suit focuses on loans issued by Countrywide Financial, a mortgage lender that was taken over by Bank of America. When Countrywide pooled loans into securities and sold them, MBIA provided insurance.
In the suit, MBIA is trying to recoup money it has lost to make good on its insurance policies.
Just wondering why AIG didn't sue.
--more--"
Related: Goldman's Switcharoo on AIG
Also see: MBIA might again insure muni bonds
Don't they ever learn?
Don't worry, Americans.
There will certainly be football to watch!
What I stayed away from yesterday.
Drink what you want, readers. Globe will shut you off at five.
Page one
Democrats seek to curb filibusters
Frustrated Senate Democrats, frequently thwarted by a record number of Republican filibusters, are preparing an effort to weaken the much-lamented tactic that allows a minority in the chamber to delay or derail legislation.
How come you guys never used it to stop the wars, spying, torture, etc?
And what are you fools going to do when you are the minority in 2012?
Talking trash over parking
I'm sick of BG trash talk.
Nation
Metro
How come you guys never used it to stop the wars, spying, torture, etc?
And what are you fools going to do when you are the minority in 2012?
Talking trash over parking
I'm sick of BG trash talk.
Nation
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Metro
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- BOSTON Republican said to violate campaign law (Boston Globe)
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- (Associated Press)
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- Regulators move to the other side (By Zachary A. Goldfarb, Washington Post)
