Quick and without looking, which TBTF U.S. financial is not on the list of those sued by the...
Sunday, September 4, 2011, 9:37 AM ET
Quick and without looking, which TBTF U.S. financial is not on the list of those sued by the FHFA over sales of suspect MBS to the GSEs? Answer here. List of those sued here.
wells wasn't sued because they entered into a tolling agreement with the fhfa...basically they waived their statute of limitations right with respect to this claim. That's an indicator that they are talking and close to settling, and thus willing to give the government more time to sue them later if talks break down.
The bigger issue was the money laundering for the cartels done by Wachovia, settled for pennies on the dollar; investigations were leading to too many VIPs.
That's probably right Chigs. Wachovia had as almost as much crap at that point at Countrywide (due to the acquisition of "Golden Shower (West) " a long ago forgotten CA bank. BAC should/ could have done the same.
No. All 17 banks in the lawsuits have investment banking business, and thus are part of the core Wall Street. Also, all 17 are primary dealers for the US Treasury market.
Wells Fargo, although big in the mortgage business, didn't and still doesn't have any investment banking business.
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Warren Buffett
Wells Fargo, although big in the mortgage business, didn't and still doesn't have any investment banking business.