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Originally Posted by Vexx
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One billion is nothing to them. Remember JP Morgan lost billions this year, and they haven't even flinched. Plus, the investigation officials basically got on their knees to service the CEO, after they got done wiping the drool from their mouths.
Odds are high that this will settle for far less, no major convictions will be had, and it will drain more taxpayer money with no real punishment or reform. Countrywide was a terrible investment for BoA, and as a former customer of both I know that firsthand, but Countrywide had extensive money/property dealings with high ranking political officials and there is no way that will become something discussed nationally on MSM outlets.
Besides, the settlement from this year was a good indication of how even state governments are more interested in using settlement money to help their budgets than screwed over homeowners. Remember Walker boasting about how he balanced the budget? You can thank part of that to a nice chunk of money meant for struggling homeowners.