There is no reason to believe Bank of America’s fraudulent and predatory practices were confined to Homeowners. The Security Exchange Commission (SEC) and Justice Department should not just be investigating “investor” losses, but those foisted on cities across America, including Detroit. “The slogan from the frenetic days of Occupy marches in Downtown Manhattan replays in my head like a jingle: “Bank of America, Bad for America.” Since the 2008 financial crisis, the U.S.’s second largest bank has seen none of its executives face jail time, despite the bank’s going through numerous legal battles over a spate of mortgage fraud. So far, the banking giant has paid out $45 billion to settle disputes stemming from the 2008 financial crisis.” “This week the SEC and the Justice Department have filed suit against the bank, once again claiming that it misled investors over mortgage securities.” salon/2013/08/07/government_sues_bank_of_america_over_mortgages/ Here are a couple of other related background articles on Bank of Americas practices with homeowners and attempts to evade responsibility: Bank of America whistle-blower’s bombshell: “We were told to lie” salon/2013/06/18/bank_of_america_whistleblowers_bombshell_we_were_told_to_lie/ Bank of America Lied to Homeowners and Rewarded Foreclosures, Ex-Employees Say truthdig/report/item/bank_of_america_lied_to_homeowners_and_rewarded_foreclosures_ex-employees_s/ Bank of America Schemes to Evade Settlement Rules and Pocket Cash truthdig/eartotheground/item/bank_of_america_schemes_to_evade_settlement_rules_and_pocket_cash_20130629/
Posted on: Wed, 14 Aug 2013 04:02:57 +0000
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