Page 1 of 3 123 LastLast
Results 1 to 10 of 25

Thread: Bank of America to pay $16.65 billion over mortgages

  1. #1
    Sage

    Join Date
    Dec 2011
    Location
    Florida
    Last Seen
    Today @ 07:01 PM
    Gender
    Lean
    Liberal
    Posts
    23,373

    Bank of America to pay $16.65 billion over mortgages

    On Thursday, the bank reached a $16.65 billion agreement to pay the biggest settlement in history, adding to what was already a hefty bill for the bank.

    The latest agreement settles probes by the Justice Department and six states that accused the bank of misleading the buyers of mortgage-backed bonds about the quality of the loans. The bank admitted responsibility, but the announcement did not include criminal charges.

    The settlement includes almost $10 billion in various penalties and civil suit claims from federal and state regulators, with the rest earmarked for homeowner relief.

    It's been an expensive few years for Bank of America (BAC):
    Bank of America to pay $16.65 billion over mortgages - Aug. 21, 2014

    That brings BAC to a staggering $74 Billion in penalties due to misconduct in the mortgage boom. Yet there are some who doubt the culpability of the banks for causing the crisis. They had help of course, GW Bush was invaluable in his support of the bankers scheme and it could not have happened without his help.

    HUD Archives: President George W. Bush Speaks to HUD Employees on National Homeownership Month (6/18/02)

  2. #2
    Sage
    EnigmaO01's Avatar
    Join Date
    Dec 2009
    Location
    Indiana
    Last Seen
    Today @ 11:32 AM
    Gender
    Lean
    Other
    Posts
    7,027

    Re: Bank of America to pay $16.65 billion over mortgages

    Quote Originally Posted by iguanaman View Post
    Bank of America to pay $16.65 billion over mortgages - Aug. 21, 2014

    That brings BAC to a staggering $74 Billion in penalties due to misconduct in the mortgage boom. Yet there are some who doubt the culpability of the banks for causing the crisis. They had help of course, GW Bush was invaluable in his support of the bankers scheme and it could not have happened without his help.

    HUD Archives: President George W. Bush Speaks to HUD Employees on National Homeownership Month (6/18/02)
    I wish these people would go to jail.

  3. #3
    Sage
    WCH's Avatar
    Join Date
    Mar 2013
    Location
    The Lone Star State.
    Last Seen
    Today @ 05:28 PM
    Gender
    Lean
    Conservative
    Posts
    22,203

    Re: Bank of America to pay $16.65 billion over mortgages

    DoJ to give settlement money away to Liberal activist groups.

    DOJ To Give Money From Bank Of America Settlement To Liberal Activist Groups | The Daily Caller

    What of bunch of POS.

    The banks get to write-off the penalties and the monies are redistributed to Leftists.
    32 “Whoever acknowledges me before others, I will also acknowledge before my Father in heaven. 33 But whoever disowns me before others, I will disown before my Father in heaven.
    Matt. 10:32-33

  4. #4
    Sage
    Hicup's Avatar
    Join Date
    Oct 2009
    Location
    Rochester, NY
    Last Seen
    12-07-17 @ 03:18 PM
    Gender
    Lean
    Very Conservative
    Posts
    7,846

    Re: Bank of America to pay $16.65 billion over mortgages

    Quote Originally Posted by EnigmaO01 View Post
    I wish these people would go to jail.
    Of that we agree, and I say we start the line with the politicians that went right along with them. As to the OP and blaming just GWB, he's already marginalized himself in this debate at the get-go. Anyone that knows the truth about the meltdown knows there were many players, and no specific person to blame.

    Tim-
    “When buying and selling are controlled by legislation, the first things to be bought and sold are legislators.” - P. J. O’Rourke
    “Socialism is great until you run out of someone elses money” Margaret Thatcher

  5. #5
    Sage
    Hicup's Avatar
    Join Date
    Oct 2009
    Location
    Rochester, NY
    Last Seen
    12-07-17 @ 03:18 PM
    Gender
    Lean
    Very Conservative
    Posts
    7,846

    Re: Bank of America to pay $16.65 billion over mortgages

    Quote Originally Posted by WCH View Post
    DoJ to give settlement money away to Liberal activist groups.

    DOJ To Give Money From Bank Of America Settlement To Liberal Activist Groups | The Daily Caller

    What of bunch of POS.

    The banks get to write-off the penalties and the monies are redistributed to Leftists.
    Isn't congress controlling the money? How does Obama and the DOJ get to decide? I don't get this?

    Tim-
    “When buying and selling are controlled by legislation, the first things to be bought and sold are legislators.” - P. J. O’Rourke
    “Socialism is great until you run out of someone elses money” Margaret Thatcher

  6. #6
    Sage
    WCH's Avatar
    Join Date
    Mar 2013
    Location
    The Lone Star State.
    Last Seen
    Today @ 05:28 PM
    Gender
    Lean
    Conservative
    Posts
    22,203

    Re: Bank of America to pay $16.65 billion over mortgages

    Quote Originally Posted by Hicup View Post
    Isn't congress controlling the money? How does Obama and the DOJ get to decide? I don't get this?

    Tim-
    Guessing DoJ assesses the penalties and get the money. It damn sure shouldn't go to ACORN or the racists La Raza
    32 “Whoever acknowledges me before others, I will also acknowledge before my Father in heaven. 33 But whoever disowns me before others, I will disown before my Father in heaven.
    Matt. 10:32-33

  7. #7
    Kinky
    tres borrachos's Avatar
    Join Date
    Feb 2012
    Location
    New England
    Last Seen
    Today @ 03:53 PM
    Gender
    Lean
    Moderate
    Posts
    39,234

    Re: Bank of America to pay $16.65 billion over mortgages

    Quote Originally Posted by iguanaman View Post
    Bank of America to pay $16.65 billion over mortgages - Aug. 21, 2014

    That brings BAC to a staggering $74 Billion in penalties due to misconduct in the mortgage boom. Yet there are some who doubt the culpability of the banks for causing the crisis. They had help of course, GW Bush was invaluable in his support of the bankers scheme and it could not have happened without his help.

    HUD Archives: President George W. Bush Speaks to HUD Employees on National Homeownership Month (6/18/02)
    OMG now that's funny. You have no idea what the BofA fine is all about, do you?

  8. #8
    Sage
    Unitedwestand13's Avatar
    Join Date
    Jan 2013
    Location
    Sunnyvale California
    Last Seen
    Yesterday @ 05:44 PM
    Gender
    Lean
    Liberal
    Posts
    14,985

    Re: Bank of America to pay $16.65 billion over mortgages

    Quote Originally Posted by WCH View Post
    Guessing DoJ assesses the penalties and get the money. It damn sure shouldn't go to ACORN.
    how can it since ACORN is defunct and no longer functions as a organization at any level.
    "If you can't stand the way this place is, Take yourself to higher places!"
    Break, By Three days grace

    Hilliary Clinton/Tim Kaine 2016

  9. #9
    Kinky
    tres borrachos's Avatar
    Join Date
    Feb 2012
    Location
    New England
    Last Seen
    Today @ 03:53 PM
    Gender
    Lean
    Moderate
    Posts
    39,234

    Re: Bank of America to pay $16.65 billion over mortgages

    Quote Originally Posted by EnigmaO01 View Post
    I wish these people would go to jail.
    Which people?

  10. #10
    Sage
    Hicup's Avatar
    Join Date
    Oct 2009
    Location
    Rochester, NY
    Last Seen
    12-07-17 @ 03:18 PM
    Gender
    Lean
    Very Conservative
    Posts
    7,846

    Re: Bank of America to pay $16.65 billion over mortgages

    Quote Originally Posted by WCH View Post
    Guessing DoJ assesses the penalties and get the money. It damn sure shouldn't go to ACORN.
    The DOJ is just the lawyer for the government, note, government. It's the governments money, IE the peoples money, and who spends it is the people, NOT an arm of the administration.

    I need to look into this further. Does anyone know how or where money from awards goes?

    Tim-
    “When buying and selling are controlled by legislation, the first things to be bought and sold are legislators.” - P. J. O’Rourke
    “Socialism is great until you run out of someone elses money” Margaret Thatcher

Page 1 of 3 123 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •