$8.5 Billion Settlement but No Fraud, Right? They Must Think We’re Stupid.
Posted by Larry Doyle on June 29th, 2011 6:44 AM |
They must think we’re stupid.
News that Bank of America is poised to pay an $8.5 billion settlement in a claim by investors that the firm and a predecessor sold packages of loans/securities which did not meet standards and provide proper disclosures is a joke. Regrettably the joke is on us, that is, the citizens of this great land.
$8.5 billion may be a lot of money but what price warrants real justice? (more…)