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Bank of America's (BAC) Article 77 hearing is on hiatus until July 8 to allow the presiding...

Bank of America's (BAC) Article 77 hearing is on hiatus until July 8 to allow the presiding judge time on other cases. Day 8 of the hearing was an uneventful one, reports Mark Palmer, notable mostly for the judge admonishing an attorney representing the supporters to quit coaching (through gestures) a witness on the stand.
Comments (10)
  • DoowopDave
    , contributor
    Comments (204) | Send Message
     
    BAC is in trouble. Don't count on a good outcome for BNYM or BAC. As Steve Miller once said: "take your money and run".
    17 Jun 2013, 08:30 PM Reply Like
  • MrWittyOne
    , contributor
    Comments (39) | Send Message
     
    If BAC loses countrywide is going into bankruptcy, then where does that leave AIG and the rest of the creditors-----with nothing.....
    17 Jun 2013, 09:50 PM Reply Like
  • what do I know
    , contributor
    Comments (1049) | Send Message
     
    Dear MrWittyOne: You would think that Mr. the CEO of AIG should think about that. If the guy was that smart he would not want to be CEO of AIG!
    18 Jun 2013, 03:57 PM Reply Like
  • billmichael
    , contributor
    Comments (99) | Send Message
     
    What kind of precedent does this set? Or is there already precedent for companies to settle and then later, one changes its mind and backs out of the settlement? How can one do business when there is no way to know what is going to happen next? I guess it is not over until the fat lady sings, and sings, and sings.
    17 Jun 2013, 10:49 PM Reply Like
  • John/Jack
    , contributor
    Comments (83) | Send Message
     
    The worst case scenario is the judge says no to the settlement, and the AIG-led investors bump the new settlement to 12-15 cents on the dollar -- the investors' first and wishful number in negotiations.
    17 Jun 2013, 11:39 PM Reply Like
  • Lankfam
    , contributor
    Comments (45) | Send Message
     
    What does that tell ou that the judge has to take a break from this case to go and work on others. Not too exciting or important on this case. They should just dismiss the whole case and call it quits for anyone else deciding to sue another bank. The dead horse has been resurrected how many times now?
    17 Jun 2013, 11:58 PM Reply Like
  • Mark Moore
    , contributor
    Comments (22) | Send Message
     
    glad I sold BOA
    18 Jun 2013, 09:27 AM Reply Like
  • what do I know
    , contributor
    Comments (1049) | Send Message
     
    I was under the impression that AIG lawyers said that they were not ready with all the evidences.
    18 Jun 2013, 04:00 PM Reply Like
  • berealforgodsake
    , contributor
    Comments (4) | Send Message
     
    BofA will win this judgment, they are not the originators for the loans made be CW. There was no intent to harm only to save and regenerate profit on troubled loans. The real fault lies with Rating agencies;and FANNIE and FREDDY> Damn Govt. Sticking its paws in where they don't belong. This lawsuit will end and send a signal that MONEY for NOTHING is over. People took risks too bad.
    18 Jun 2013, 04:27 PM Reply Like
  • healthpicker
    , contributor
    Comments (937) | Send Message
     
    I am 80% sure BAC will lose and with other litigation in the works and LIBOR still in play BAC has a lot to get over yet. Holding this through next few months a gamble. Too risky for me.
    18 Jun 2013, 06:44 PM Reply Like
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