In what is believed to be the largest settlement in U.S. corporate - TopicsExpress



          

In what is believed to be the largest settlement in U.S. corporate history, Bank of America has agreed to a near $17 billion deal to settle claims against it relating to the sale of high-risk mortgage-linked securities including sub-prime home loans. Was instantly reminded of the absolute pandemonium of 2007-2008 recession that amounted to global losses of $2 trillion-$6 trillion by various estimates and with more than 10 million people losing their jobs world-wide. Many even lost everything they had, including their lives. Also brings to mind the following brilliantly humorous take by British comedians John Bird and John Fortune describing the mindset of the investment banking community, and the aftermath of the so-called Sub-prime crisis. -Rahul
Posted on: Mon, 01 Sep 2014 11:56:21 +0000

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