Another day, another subpoena for Bank of America (BAC -1.4%): Massachusetts’ securities...


Another day, another subpoena for Bank of America (BAC -1.4%): Massachusetts’ securities regulator subpoenas the bank in connection with its involvement in loan securities that resulted in $150M in losses for investors. The state is examining whether BofA knowingly overvalued the assets in the portfolios to get the loans off its books.
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Comments (6)
  • Financial Insights
    , contributor
    Comments (928) | Send Message
     
    I have no knowledge of this situation, but it seems as if taking a loss on a security sold to you by a big bank now qualifies the transaction to be looked at by regulators and be classified as potential fraud. Everyone is jumping on the band wagon, and the ambulance chasers are loving it.
    10 Feb 2012, 02:09 PM Reply Like
  • bbro
    , contributor
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    Garbage lawsuit from a politician...
    10 Feb 2012, 02:13 PM Reply Like
  • jackooo
    , contributor
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    What does Congress have to say about this??
    10 Feb 2012, 02:16 PM Reply Like
  • surfnspy
    , contributor
    Comments (406) | Send Message
     
    Love him or hate him, Dick Bove says that the big banks are the new "big tobacco" companies of this decade. Lawsuits, lawsuits, and more lawsuits.
    10 Feb 2012, 02:20 PM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
     
    I agree with Bove...look at it this way...The Federal Government can´t bail out the states...but they can bail out the TBTF banks....so lawsuits after lawsuits will be settled for trillions...and the states will have the funds to make up their shortfalls...and the Fed just loans the banks more at zero interest.....all good on paper right...It makes me sick to tnik about ..but I bet this is the PLAN
    10 Feb 2012, 02:26 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3527) | Send Message
     
    youngman, how can you come up with a conspiracy theory like this when everything our government does is transparent, as promised.:-)
    10 Feb 2012, 03:26 PM Reply Like
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