Bank of America (BAC) agrees to pay $2.43B to settle a class action lawsuit alleging the bank...

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untrusting investor Comments (9879)
 
BAC is still far from out of the woods yet. But at least they are working to get more of these lawsuits behind them.
28 Sep 2012, 08:59 AM Reply Like

bbro Comments (7830)
 
BAC May 2021 bond yields 3.85%
28 Sep 2012, 09:00 AM Reply Like

sses Comments (24)
 
This bank will never be clean.
28 Sep 2012, 09:18 AM Reply Like

mweaver Comments (178)
 
the company won't be allowed to go under
as long as it is a convenient target for
lawsuits. backstopped by the treas, fed and
taxpayer $$, it should survive. still a zombie though
28 Sep 2012, 09:22 AM Reply Like

florrome12 Comment (1)
 
too long to recover earlier investments- perhaps getting in if you have many years
28 Sep 2012, 10:06 AM Reply Like

Buckoux Comments (3982)
 
I do think that Ken Lewis took on Merrill-Lynch under the duress of Treasury Secretary, Henry Paulson, in return for TARP bailout. It wasn't the best of times, but the action was an attempt to make the looming hard times coming easier. This is economics, finance and government in a "Quantum Mechanics" dimension. No knows if it was the "right thing to do" and no one wants to go back and undo it to find out. Pay the money and move on.
28 Sep 2012, 10:55 AM Reply Like

onewhatsbeendonebefore Comments (137)
 
BAC IS TOTAL NONESENSE

My LNG strangle (the 5th time this month) is up 38% from yesterday

Why waste time and money on bad banks moving up or down a fraction

Its great I want to spread the word to make everyone RICH

SPREAD THE WEALTH!!!
28 Sep 2012, 10:56 AM Reply Like

MexCom Comments (2796)
 
Big settlement, big set aside on the balance sheet. The cash has to be claimed. If 90% gets actually claimed - that would be high. My guess is 75% - maybe less. The amount not claimed will return in less than 5 years maybe a lot sooner. Big immediate savings on taxes to income. The pile of cash keeps getting bigger and bigger.
28 Sep 2012, 11:18 AM Reply Like

Jonnybegood Comments (10)
 
What's good for the Bank of America is good for America!
29 Sep 2012, 09:31 PM Reply Like