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This is in direct response to BofA previously telling Utah to go screw itself about the foreclosures. Market-Ticker says what Utah should do now. The time to rattle sabers is over. Start revoking foreign corporate registrations (necessary to do business in a given state) and bringing indictments. Agreed. The best place for these arrogant banksters [...] Proposed revised flag for U.S. BofA quickly settled for a wrist-slap $33 million in fines for their statements on the Merrill merger. We no longer have even the appearance of a functioning justice system. From the comments on Zero Hedge Awesome! SEC takes almost a year to file charges when everyone was shouting fraud [...] This presumably would include investigating Bernanke and Paulson too. WSJ money quote: The person familiar with the investigation said the review of documents, notes from phone conversations involving Federal Reserve officials and other information suggest “there’s fire there.” This could be huge. Look, I mean, what was BofA CEO Kenneth Lewis supposed to do [...] BofA is in “advanced talks” to buy Countrywide. (Their original stake in Countrywide, taken a few months back, was at $18 a share. Countrywide closed today at $7.) |  | ||||
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