Lies, cheat, steal - pay small fine and do it again. Fraud as a business model. Bank of America has to buy back ALL their fraudulent mortgages.
U.S. Government spending hundred of billion to bail out these fraudulent banks and giving them next 0% interest rate. These crooks turn around and charging us 4-5% and more with hundred million in bonus every year. We have to stop these parasites and their untouchable allies.
Why American taxpayers are always the victims?
As a part of the deal, B of A will pay Fannie Mae $3.6 billion in cash and repurchase $6.75 billion of impaired mortgages. 10 billion is a drop in the bucket for what was lost and sufered. Unlike the other settlements, this accord actually goes to directly assisting and compensating homeowners who are facing foreclosure or may have lost their home as the result of faulty mortgage servicing. Are American taxpayers really naive, stupid, or both?