October 25, 2012

Another Pennies on the Dollar Settlement

Editor’s Note: like the post before this one, it is astonishing how these settlements fall so far short of the actual damage that was created by the banks by their intentional illicit and criminal behavior. This one “relates to conduct at Greenwich Capital, the R.B.S. unit that bundled mortgages into securities and sold them to …

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BOA Sued for ONLY $1 Billion by NY Federal Prosecutor

Editor’s Note: OK I’m glad they sued and I am glad they are alleging “brazen fraud.” But considering the trillions that were lost from this fraud why are the suits for only $1 billion and the settlements for only $25 billion? Why are we not clawing back the ill-gotten money from the brazen fraud they …

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