Ticker reads the footnotes.
It's not pleasant.
Bank of America's 10-Q:
The Corporation and affiliates, legacy Countrywide entities and affiliates, and legacy Merrill Lynch entities and affiliates have been named as defendants in a number of cases relating to various roles they played in MBS offerings.
To the tune of around $375 BILLION...
"....material misrepresentations....omissions....underwriting standards....Securities Act of 1933.....State securities acts....seek rescission..."
Nothing to see here. Move along.
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