The banks have really screwed this country up and if this attorney is right we have a whole lot more pain ahead of us rather than behind us.
In other news it looks like some of the bank's investors on Wall Street, including the NY Federal Reserve are saying its time to pay the piper for their misdeeds. Today, PIMCO, BlackRock Inc. and the Federal Reserve Bank of New York as well as 4 other investors are seeking to force Bank of America Corp. to repurchase soured mortgages packaged into $47 billion of bonds by its Countrywide Financial Corp. unit.
I guess we will be seeing further write downs by Bank of America in the next quarterly report. Ouch. I expect that the other mortgage lenders will also be getting similar notices from their investors for the other worthless bonds peddled by the banksters during the housing boom.