Reuters: Holder will not meet with BofA over mortgage settlement


Eric Holder says he will not meet with BofA (BAC) CEO Brian Moynihan to discuss a settlement over the bank's mortgage lawsuit with the Justice Department, Reuters reports. The Attorney General states that the "parties remain too far apart for a meeting to be productive."

In prior negotiations over the shoddy mortgage selling lawsuit, BofA discussed paying $12B to resolve the claims, although the Justice Department countered with a $17B settlement .

JPMorgan Chase CEO Jamie Dimon previously cut a $13B deal with Holder regarding his bank's involvement with its mortgage selling before the financial crisis, and BofA was seeking a similar negotiation.

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Comments (19)
  • DeepValueLover
    , contributor
    Comments (11062) | Send Message
     
    Eric Holder please resign.
    10 Jul 2014, 05:09 AM Reply Like
  • jackooo
    , contributor
    Comments (1738) | Send Message
     
    Again I post this...............
    Obama's shill, Eric Holder will help him destroy America.

     

    1. Illegals.
    2. IRS.
    3. NASA wiretaps.
    4 .Healthcare.
    5. Racial divide.
    6. Poor versus rich.
    7. Trying to borrow more $$ to put the country in bankruptcy.
    10 Jul 2014, 12:36 PM Reply Like
  • Wow72
    , contributor
    Comments (584) | Send Message
     
    E holder is a dink! Loser! I see the economy is job 1, Not?.....Thanks for all your wonderful "unjust" help....Thanks also for the outstanding job with gun sales....Couldn't have sold more if they tried!..

     

    This DOJ doesnt have a clue as to what "justice" really is? It would be moving in the forward direction, not backwards...This administration has been a disaster and I will never think any different.....They clearly think they can manipulate economics and get away with it..Morons!
    10 Jul 2014, 05:44 AM Reply Like
  • funfundvierzig
    , contributor
    Comments (4376) | Send Message
     
    Brian Moynihan, please resign.

     

    As a key player in the decision-making at the highest levels of executive leadership for the past decade at the Bank beginning in 2004, Mr. Moynihan is part and parcel of the sordid history of this disreputable financial conglomerate. His departure and the resignation of long-time veteran members of the Board of Directors of Bank of America Corp might expedite negotiations with Justice redounding to the benefit of the long suffering owners of this Bank, BAC shareholders.

     

    This Bank quintessentially needs a flush of fresh talent from the outside possessing extraordinary competency and the highest probity. …funfun..
    10 Jul 2014, 05:50 AM Reply Like
  • Wow72
    , contributor
    Comments (584) | Send Message
     
    What part of the government are you from Wrongwrong? Whens your next insider trade? Oh but I bet you can handle it right?? Where is your proof....I know lots of decent people who work there and have been called crooks for 6 going on 7 years now...What type of moron administration would think this is HELP? This makes Eric Holder look like an Ass which I already new he was...These guys are useless and we will see at the elections, never voting for the Dems again, unless they so me the recovery they talk so much about...

     

    I just dont get these guys, they under estimate the anger yet again?

     

    We will never get a decent running economy as long as our government and DOJ is occupied by crooks!

     

    Tell Obama to sign that "Free" Trade deal with Malaysia so we can lose more jobs...Traitor!
    10 Jul 2014, 05:55 AM Reply Like
  • Wow72
    , contributor
    Comments (584) | Send Message
     
    Ya know what really pisses me of Wrongwrong? Ive never been referred to as being a racist more times since having voted for a black president!.....They have done it one too many times with me....Never again! Wow what a mistake! I made putting any trust in these guys!
    10 Jul 2014, 06:04 AM Reply Like
  • Wow72
    , contributor
    Comments (584) | Send Message
     
    just because I disagree....
    10 Jul 2014, 06:41 AM Reply Like
  • multi007
    , contributor
    Comments (148) | Send Message
     
    I don't agree - Moynihan helped the country after being strong armed into purchasing country wide, at the strong urging of the fed, and being forced to take capital, again at the strong urging of the fed.

     

    and what does bac get as thanks?....threat of lawsuits
    10 Jul 2014, 10:57 AM Reply Like
  • JBBanker
    , contributor
    Comments (145) | Send Message
     
    BAC should not settle with the DOJ. These are political shakedown lawsuits and will not stand up in a court of law. AG Holder's settlement with JPM worked because he had the "London Whale" incident to bear down on Jamie Dimon as well as a White House that at that time still had fair approval ratings. BAC is NOT in the same predicament as JPM. They should fight it out. These cases are all weak. Obama's approval ratings are plunging to depth not seen in a President during my lifetime, and I don't see them improving. In fact, I see them determinations further with Iraq, Texas Border, IRS and I'll just stop there. Everyone knows JPM settled because the government would have just kept coming after them. This government is now on its heals.

     

    BAC should just buckle down and take the full course of the legal system to bring back justice for itself, shareholders and Americans. BAC should learn that there is no fair dealing with the Obama administration just ask BP. BAC should do what Exxon did and not what BP and JPM did. Fight it out. As time passes from trial use the earnings power of BAC to build up your legal accruals (tax free money) in the event you have to pay out, and then exhaust your appeals before doing so. The idea is courts are more honest, fair and just than the Obama administration and AG Holder. BAC should take the high ground and get out of this shakedown ridiculous game!
    10 Jul 2014, 08:18 AM Reply Like
  • funfundvierzig
    , contributor
    Comments (4376) | Send Message
     
    It is not likely Bank of America leaders are going to let this go to trial. Active and erstwhile bosses of this Bank will resist having to appear and testify in the courtroom, and face a plethora of T.V. cameras outside. Bank counsel, inside and outside, will do everything to avoid dragging out Bank bosses and derelict Directors for public exposure, ENRON-style. In short, the face of fraud must be kept hidden or cosmeticised.

     

    A settlement will soon be struck in our opinion. …funfun..
    10 Jul 2014, 08:26 AM Reply Like
  • Wow72
    , contributor
    Comments (584) | Send Message
     
    Prime opportunity for extortion, right? Wrongwrong...

     

    Im sorry, but responsible, mature handling of the law, is not taking advantage of it! Using it as a weapon... These guys are so irresponsible...They think billions are something that grows on trees...
    10 Jul 2014, 08:48 AM Reply Like
  • multi007
    , contributor
    Comments (148) | Send Message
     
    agreed. they wont go to trial. but they could drag this out as long as possible in hopes for a change in political party...
    10 Jul 2014, 10:55 AM Reply Like
  • jackooo
    , contributor
    Comments (1738) | Send Message
     
    Billions for the illegals have to come from some where. 3.7 Billion to support the illegals coming over the border in a flood while the President campaigns in Texas for the Democratic Party! 2% of that for border security!
    10 Jul 2014, 12:42 PM Reply Like
  • Wow72
    , contributor
    Comments (584) | Send Message
     
    They are just such sticklers for the law that they are doing nothing except letting illegals continue daily to pour through our borders...
    10 Jul 2014, 08:33 AM Reply Like
  • TBV
    , contributor
    Comments (168) | Send Message
     
    When a public servant is over his head and let his ego takes over.... corruption occurs.
    10 Jul 2014, 09:07 AM Reply Like
  • jackooo
    , contributor
    Comments (1738) | Send Message
     
    What public servant is over his head? Not Obama or Holder. They know exactly what they want to do. They are more intelligent then the people on this site because you are not thinking outa the box! The plan is to eliminate the U.S. as a world power and bring the infidels to their knees. Can't you grasp that?
    10 Jul 2014, 12:45 PM Reply Like
  • TBV
    , contributor
    Comments (168) | Send Message
     
    lol... I grasp that alright..The judgement day is coming.
    11 Jul 2014, 12:31 PM Reply Like
  • jackooo
    , contributor
    Comments (1738) | Send Message
     
    A government that fails to secure its borders is guilty of dereliction of duty. A government that fails to care for our men and women on the frontlines is guilty of malpractice. A government that puts the needs of illegal aliens above U.S. veterans for political gain should be prosecuted for criminal neglect bordering on treason.

     

    Compare, contrast and weep:

     

    In Sacramento, Calif., lawmakers are moving forward with a budget-busting plan to extend government-funded health insurance to at least 1.5 million illegal aliens.

     

    In Los Angeles, federal bureaucrats callously canceled an estimated 40,000 diagnostic tests and treatments for American veterans with cancer and other illnesses to cover up a decade-long backlog.

     

    In New York, doctors report that nearly 40 percent of their patients receiving kidney dialysis are illegal aliens. A survey of nephrologists in 44 states revealed that 65 percent of them treat illegal aliens with kidney disease.
    10 Jul 2014, 01:27 PM Reply Like
  • dellawoods007
    , contributor
    Comments (4) | Send Message
     
    Ditto, Jackoo!!!
    13 Jul 2014, 10:46 AM Reply Like
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