Would it be too much to ask that CEO Moynihan address the whole subject of continued litigation with shareholders. How do we constantly get blindsided with all this crap. He announces a dividend increase, further buybacks, a week ago and now this. Something is not right. Whether it has been anticipated or not it would be nice to hear a response.
Not only are they enormous, unfair fines to BAC, JPM etc, the question is, who gets the money. JD lawyers and employees shall be getting salaries and bonuses that clearly dwarf "FAT CAT" salaries bankers get, and Obama barked so much about during elections...... And later other obscure government departments shall come to the feeding frenzy and sue the banks all over again, it's easy money.
Translation: F... the share holders like us.
Just lay back and enjoy the redistribution to Obama's Friends and remember to vote democrat for more fun times
He wouldn't know its whatever Obama's Cronies decide month to month. You vote a criminal into office this is what you get
I doubt that he knows himself. I doubt the legal department knows. Sorry. The world is unpredictable.
But look on the bight side of this, these lawsuits keep the price of BAC low so you can buy more. Eventually this cloud will pass away and the price will rise and you will be glad you bought more. Buy and hold.
Sentiment: Strong Buy
In the meantime I'm missing opportunities in other stocks while waiting and waiting and waiting. Don't sell me bright side. Bright side is a rising share price.
You sound like a dumb penny stock pusher. More for me, backup the truck, yada yada yada. Why don't you got tell your hero Obama that #$%$ huh otherwise wakeup and smell the coffee you idiot!
That is the problem with Government there is nothing that can be done. If I were Moynihan I would fight and go to court. They want Bac to settle but I would fight it and if they are lucky enough to get a Republican Administration they may actually win lol
Just when we thought its post-crisis probe of banks couldn’t get more corrupt, the Obama administration has cut radical Democrat groups in on the record $13 billion JPMorgan Chase subprime loan deal.
On Page 5 of “Annex 2″ of the recently released consent order, you’ll find this little gem: The Justice Department mandates that JPMorgan fork over any unclaimed or unpaid consumer damages to a nonprofit group that finances Acorn clones and other shakedown groups.
They stand to reap millions. The “consumer relief” portion of the deal by itself totals $4 billion.
If the government “determines that a shortfall in that obligation remains as of Dec. 31, 2017,” the agreement states, “JPMorgan shall make a compensatory payment in cash in an amount equal to the shortfall to NeighborWorks America to provide housing counseling, neighborhood stabilization, foreclosure prevention or similar programs.”
Potentially billions could be distributed to Democrat activists through NeighborWorks, a government-funded “affordable housing” group that supports a national network of left-wing community organizers operating in the same vein as Acorn.
ROTFLMAO have you alerted American Airlines, American Express, and American Idol of this grave and imminent threat? It seems ball-smugglers like you can only muster brief simulations of rationality and normality before the paranoid delusional night terrors take over ROTFLMAO and would you mind explaining that royal 'we' non-sequitur......you and who else have been in what business collectively for almost 500 years? Besides ball-smuggling? Face it: if you ever had it, which is doubtful, you've lost it.
And to you 'thumbs-down" ball-smugglers: who do you like in the '16 Presidential Race, and how much do you want to bet on them? ROTFLMAO at sputtering no-shows everywhere.
ROTLFMAO You ball smuggling snuggle bunny racist ROTLFMAO