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Old 10-24-2012, 11:15 AM
NDL NDL started this thread
 
Location: The CLT area
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Federal Prosecutors Sue Bank of America Over Mortgage Program - NYTimes.com

"In a civil complaint filed in New York seeking $1 billion from the bank, the Justice Department took aim at a home loan program known as the “hustle,” a venture that Bank of America inherited with its purchase of Countrywide Financial during the crisis."
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Old 10-24-2012, 01:59 PM
 
Location: Charlotte,NC, US, North America, Earth, Alpha Quadrant,Milky Way Galaxy
3,770 posts, read 7,527,408 times
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Quote:
Originally Posted by NDL View Post
Federal Prosecutors Sue Bank of America Over Mortgage Program - NYTimes.com

"In a civil complaint filed in New York seeking $1 billion from the bank, the Justice Department took aim at a home loan program known as the “hustle,” a venture that Bank of America inherited with its purchase of Countrywide Financial during the crisis."
BofA can't get any love huh...This would be landmark as this goes through and opens up further litigation if the govt wins.
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Old 10-25-2012, 04:36 PM
 
Location: Charlotte, NC
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Originally Posted by NDL View Post
Federal Prosecutors Sue Bank of America Over Mortgage Program - NYTimes.com

"In a civil complaint filed in New York seeking $1 billion from the bank, the Justice Department took aim at a home loan program known as the “hustle,” a venture that Bank of America inherited with its purchase of Countrywide Financial during the crisis."
EXCELLENT. If the gov't keeps the pressure up, then, hopefully, the banks will FINALLY learn their lessons.
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Old 10-25-2012, 04:42 PM
 
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^Unless they start hitting the executives of these places with criminal charges, I don't think there is going to be any changes. A billion dollars to a TBTF bank is a pin prick.
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Old 10-25-2012, 04:46 PM
 
Location: The Triad
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Imagine if BOA had never gone after Countrywide OR Merrill Lynch?
It might have been a successful bank today.
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Old 10-25-2012, 05:28 PM
 
Location: Charlotte, NC
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Originally Posted by frewroad View Post
^Unless they start hitting the executives of these places with criminal charges, I don't think there is going to be any changes. A billion dollars to a TBTF bank is a pin prick.
true. But, couple that with the other fines that they are having....it might make a dent
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Old 10-25-2012, 06:14 PM
NDL NDL started this thread
 
Location: The CLT area
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Originally Posted by chicagocubs View Post
EXCELLENT. If the gov't keeps the pressure up, then, hopefully, the banks will FINALLY learn their lessons.
How about prosecuting people on an individual basis?
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Old 10-25-2012, 06:28 PM
 
Location: The Triad
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Originally Posted by NDL View Post
How about prosecuting people on an individual basis?
One step at a time.
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Old 10-25-2012, 07:53 PM
NDL NDL started this thread
 
Location: The CLT area
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Originally Posted by MrRational View Post
One step at a time.
I think then, and only then, will the shenanigans stop.

If we treated white collar crime as we do street crime, white collar crime would drastically decrease.
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Old 10-25-2012, 08:52 PM
 
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Originally Posted by NDL View Post
I think then, and only then, will the shenanigans stop.

If we treated white collar crime as we do street crime, white collar crime would drastically decrease.
You mean revolving door justice...
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