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Kiss Bank Of America's $8.5 Billion RMBS Settlement Goodbye?
Yesterday, when sharing our latest thoughts and observations on the $8.5 billion Bank of America settlement we said, "One thing is certain: the final BAC settlement, if one even comes to fruition, will not be $8.5 billion." Once again: we may have been correct...
- NEW YORK INVESTIGATING $8.5 BLN BANK OF NEW YORK MORTGAGE DEAL
- NEW YORK ATTORNEY GENERAL SEEKS DATA ON BANK OF AMERICA ACCORD
- NEW YORK PROBE IS PART OF MORTGAGE SECURITIZATION INVESTIGATION
- NEW YORK SENDS LETTER TO GOLDMAN SACHS, BLACKROCK, ING, INVESCO
BAC stock not liking this latest development at all.
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Score for the peasants.
maybe someone should investigate all those billions of "build america bonds".
Taxpayer Funded Bridge For San Francisco Bay Being Built In Shanghai
http://www.youtube.com/watch?v=3O3rlLuZ5tU
"THE ISSUE WHICH HAS SWEPT DOWN THE CENTURIES AND WHICH WILL HAVE TO BE FOUGHT SOONER OR LATER, IS THE PEOPLE VERSUS THE BANKS" - Lord Acton - 1834-1902.
FU BAC
Agree! Who cracks first: BAC or C?
Fucking Bank of America. They really need to go away.
F BAC hard and with something LARGE
Teflon banks....
Justice served Over Easy ..
Check that chart...10.8 million shares dumped in five minutes...an nary a flinch on the price, remaining in a 7 cent range. So much for supply and demand. Doesn't work here in the "new normal."
I wonder if Ben Bernanke is loading up on shares of Blight on America bank?
is it coming off their good book, or bad book?
Incredible.
Eric Schneiderman is gunna get them
Good.
I say we use the scorched earth treatment on these mother fuckers. Fuck 'em and feed 'em fish heads. I say shut the cocksuckers down and throw every last one of the pricks in to prison. I'm talking about the federal pen in Angola, not the club fed in Pensacola.
A couple of years getting ass raped and having their mouth used like a vagina will teach them a good lesson.
Yikes...raising the bar on hatred for bankers. I did not think the popularity of this group could go lower.
Cue J. Dimon whining about how hard it is to be a millionaire banker!
Ancona, Do not sugar coat it! How do you really feel? PS a pound or two in the joint would be good, teach 'em charecter.
Wonderful rant, though maybe a little understated.
+1793
Executive Summary: BOA will pay $8.5b now and $5.5b later to resolve losses of $221b on principal of $424b. But this only resolves the servicing-related claims, it does not resolve the claims for losses under the securities laws.
The important thing here is to look at the total losses: 52%
Extrapolated across the securitizations that remain outstanding, how much unrealized systemic loss does this 52% amount to? Trillions?? The entire banking system will need to be recapitalized.
Thisson.tumblr.com
H/T George Washington...
The quote of the day comes from Damon Silvers, a member of the independent Congressional Oversight Panel:
"We are faced with a choice here.
We can either have a rational resolution to the foreclosure crisis or we can preserve the capital structure of the banks. We can't do both."
http://www.washingtonsblog.com/2010/10/we-can-either-have-rational-resol...
Hmmmmm.....justice or the continuation of fraud, malfesance, corruption, criminal activity and fascism. Hmmmmmmm......
BAC is at the very heart of the empire stateside. The BCCI's brother in arms. The Slush Fund Buddy to linen laundering kinds. Ugly.
It will be one of the last to be assimilated.
ORI
http://aadivaahan.wordpress.com/2011/07/08/july-15th-aug-15th-month-long-window-coming-up-initial-thoughts/
Obama & Timmay need money.
The banks have money...
How long before they connect the dots?
Right again, Tyler? Speaking from experiance, I'm guessing your friends don't talk to you either?
double
They just double post.
LOL.
I'd make an offer right now for BAC for the grand total of $1....but even then after writing off the bad crap on their books (which would eliminate both equity and debt) the FDIC would still have to step in to compete the transaction
Guess someone's state budget didn't get enough of a kick back.
I will give $1.01 for BAC. I always wanted a penthouse with a helicopter pad.
OK OK OK I am finally all abroad the GOLD train . the chart looks good, for GLD' the miners seem to have bottom...the metal seems about to explode to 1650....
This guy Schneiderman has potential...
New and improved Spitzer? um er eh
Until the banks pull a Spitzer on him.
nifty update :::
http://markettechnicals-jonak.blogspot.com/
someone should ask Ken Lewis what he thinks
He hasn't died in his hot tub yet?
Why does this BOA story have a foul odor?
Reminds me of Ken Lewis & Paulson showdown.
http://www.businessinsider.com/henry-blodget-paulson-said-he-would-oust-ken-lewis-if-bank-of-america-killed-merrill-deal-2009-4
FUCK BAC. THEY ARE FLAT OUT CRIMINALS
Justice? Will believe it when I see it. But, a start.
And Mozilo is scot free; I wonder how many bodyguards he has?
And Mozilo is scot free; I wonder how many bodyguards he has?
One thing you've got to remember about Bank of America, and that is that it is the 'Vatican Bank'. And as such is, has, and always will be in the cross hairs of the devils that run America. Paulson tried taking them down my by force feeding them Merrill and that didn't work, but that won't stop them until they've consumed it whole. That's why all of the 2B3Fails have got to go.
They are all insolvent. Those who think they are not, will know better when they are given back their Maiden Lane and other such bullshit paper and we take back the Treasury's they received in exchange. It doesn't matter, all their bosses and their affilliated Primary Dealers and Hedge Funds are going to jail compliments of the RICO Act.
You think I'm shitting you, don't you? But it's true, and it's all in the New American Revolution, and every voting American has a front row ticket.
Well, fuck the Vatican, too. Damn boy molesting Nazi sympathizers.
George Carlin - The Owners of America
http://www.youtube.com/watch?v=QT0OJEFlq7A&feature=related
Am I too cynical to wonder if the NY AG's buyout price is less than BAC's potential liabilities?
FED MONEY = BAC MONEY. DONT EVER FORGET THIS.
When the Bankers go to Jailthe bible tells us not to steal
it's there in black and white
our laws are based upon it too
do not do wrong - do right
but somehow since these laws were writ
we've seen the system fail
but things will change for all the best
when the bankers go to jail
when the bankers go to jail my friends
when the bankers go to jail
we'll finally see justice done
when the bankers go to jail
when the vampire squid has been deep-fried
in the slime of Bernank's words
when politicians tell the truth
and not be lying turds
when "austerity" applies to them
and fairness does prevail
we'll finally see justice done
and the bankers go to jail
when the bankers go to jail ee-hah
when the bankers go to jail
we'll all be dancing in the streets
when the bankers go to jail
if all was as it ought to be
when any business fails
investors take a haircut
amid their tears and wails
but in our mean kleptocracy
that the MSM does hail
the working man pays all the bills
and no banker goes to jail
when the bankers go to jail thank God
when the bankers go to jail
the haircuts will be number ones
when the bankers go to jail
we're predators i must admit
it's human nature too
to seek a better living for
our wives and children too
but animals we're not you see
it not just fine detail
we keep the law, control ourselves
and the bankers go to jail
yes you bankers go to jail you scum
all you bankers go to jail
you'll be some brother's jail-house bitch
when you bankers go to jail
you may think it's a silly dream
to think of their demise
they're oh so very powerful
and every banker lies
but one day soon we'll overthrow
and have them by the tail
we'll tar and feather all of them
and send them all to jail
when the bankers go to jail for good
when the bankers go to jail
we'll hear the bells of freedom ring
when the bankers go to jail
Wow, love this! I hope you don't mind, but I copied it over to livinglies wordpress site - I thought it would give good cheer to some folks fighting the banksters. I did give you credit of course : )
What is the tempo? is it a rap or to when Johnny comes marching home?
Bravo!
Wait....All aboard the Bribery/Black Mail bus...plenty of room for civic leaders to hop aboard. Hey with HDTV and A/C (and Booze/Babes)we're going places.... you can too Mr/Ms DA/Regulator.