An OIG-HUD audit finds Bank of America (BAC) should face fraud charges related to the sloppy...


An OIG-HUD audit finds Bank of America (BAC) should face fraud charges related to the sloppy handling and servicing by its Countrywide unit on loans for federally insured mortgages. Of the loans audited, BofA batted .500 in showing "material underwriting deficiencies."
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  • Ted Bear
    , contributor
    Comments (700) | Send Message
     
    Admit to nothing. Pay a fine. Pocket the profits. Socialize the losses.

     

    Not until these guys like Mozillio, Moynihan (yeah, i know, he's lilly white innocent....didn't happen on his watch...didn't know nuttin...never saw anything wrong or imprope--signed off under the law that everything was above board, didn't he?) and Lewis go to jail for a decade or two, will this stuff end. There is no threat to them for lying and cheating. Pay off the poiticians so they are just as culpable. Put the losses on the taxpayers by threatening to expose the politicians if they don't go along.

     

    Great system. Gonna end poorly.
    5 Oct 2011, 07:44 AM Reply Like
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