Looking for a reason why the surge of BAC has been abruptly halted after hours? Look no further – as predicted earlier, when we commented on the periodic reincarnation of the always false global refi rumor which served among other things to push BAC higher by almost 10%, the rumor was found to be false… all over again. In other words no refi, no benefit to TBTF, and all of [...]
From Occupy to Withdraw: The Simple Plan to Let Wall Street Be Its Own Undoing By Scott Ledd October 2, 2011
What is needed is a simple plan that resonates with nearly all the People, regardless of political stripe. And no matter what one’s background, nearly everyone is united in abject disgust at the reckless greed of Banksters run amok and its deleterious effects [...]
NY court today ruled that MBIA can use statistical samplingÂ (instead ofÂ costly and laboriousÂ loan-by-loan examination)Â to prove their case in mortgage putbacks.
Judge Eileen Bransten granted a motion to allow the insurer, MBIA, to use statistical sampling, turning down the objections by Bank of America.
Bank of America [BACÂ 13.06Â -0.32Â (-2.39%) Â ] had told investors that it intended to fight repurchase requestsâ€”also known as put-backsâ€”on a [...]