Feds sue biggest U.S. banks over risk...

Feds sue biggest U.S. banks over risky mortgages

There are 6 comments on the The Times-Picayune story from Sep 2, 2011, titled Feds sue biggest U.S. banks over risky mortgages. In it, The Times-Picayune reports that:

In a sweeping move, the government on Friday sued 17 financial firms, including the largest U.S. banks, for selling Fannie Mae and Freddie Mac billions of dollars worth of mortgage-backed securities that turned toxic when the housing market collapsed.

Join the discussion below, or Read more at The Times-Picayune.

Since: Aug 08

Location hidden

#1 Sep 4, 2011
About time...

Since: Nov 09

Location hidden

#2 Sep 6, 2011
This is something which needs to be taken into consideration.


#3 Sep 7, 2011
They won't do anything to them with any real teeth, real teeth is big money fines and it never happens to these banks

Oklahoma City, OK

#4 Sep 12, 2011
Not too big to fail, but too big to keep in it's present form. Dangerous to society and our economy. Break BoA up into 8 or 10 pieces. In it's current configuration, BoA is toxic.

Concord, CA

#5 Sep 24, 2011
BofA is taking a hit on mortgages that they didn't even fund. The mortgages that went bad were Countrywide loans that they were made to acquire. BofA is not toxic! Its misconception and ignorance of the actual situation that is toxic.

Sacramento, CA

#6 Sep 26, 2011
I have a case at the occ, and BAC sold the service of my second, then answered the 10 Question letter they received from the OCC with lies...shocking? no not at all when it comes to professional thieves. The OCC is not really doing much, if they allow the banks to lie,& hide stuff, then never fully look into the answers the bank sends them.

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