1) People who falsely stated incomes, got mortgages , went for homes they can't afford are real reason., 2) Banks played role in pushing mortgage applications no matter what 3) federal agencies who bought these loans are investors, equally responsible, they needed to do their risk assessment.
basically systematic failure...this admin. is targeting banks as political show before elections, hurting itself because banks will stop lending or shut down mortgage business or have layoffs. what an idiotic move!!!
Since when did a lawsuit have to make sense? But I agree that the purpose of the lawsuit is simply to force a resolution and not to punish BofA. The mechanics of this whole process have already been determined and we are simply seeing the external results of decisions made long before Buffett did his own analysis and determined BofA to be a good investment. In fact Buffett's investment was probably the final tumbler to fall into place to unlock the riches of BofA.