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bladimz
05-10-2013, 06:53 PM
This should be fun to watch...


Ruling Clears Way for $7 Billion A.I.G. Suit Against Bank of America

A California judge has opened the door for the American International Group to pursue a fraud claim of more than $7 billion against Bank of America for losses it suffered on mortgage securities sold under duress after the federal government rescued A.I.G. in 2008.

The ruling, issued late Monday, is a setback for Bank of America, which has been trying to rid itself of numerous legal claims from investors who bought mortgage securities issued by the bank’s Countrywide Financial and Merrill Lynch units. In the California case, in which A.I.G., the giant insurance company, sued Bank of America over fraudulent mortgage securities, the bank had argued that A.I.G. had no standing to sue because it had transferred that right when it sold the instruments to the Federal Reserve Bank of New York in the fall of 2008.
http://www.nytimes.com/2013/05/08/business/ruling-clears-way-for-aig-suit-against-bank-of-america.html?src=recg Talk about two freakin' giants slugging it out over $7 billion. I wonder if the taxpayers will be paying for all legal fees accrued for the duration of the case.
Probably. Somehow it's worked into the deal.

Common
05-10-2013, 07:26 PM
Of course not, HOW DARE YOU insinuate that corporations do anything wrong on this forum or would charge taxpayers for their mistakes. How terribly rude of you

BillyBob
05-10-2013, 07:42 PM
Go Titans!

http://clarksvillesportsnetwork.com/wp-content/uploads/2012/05/Tennessee-Titans-logo-5.gif

bladimz
05-10-2013, 07:59 PM
The truly sad thing is that no matter who's on top when the smoke clears, we the middle class will be no better and probably even worse off because of it.

I got
2633

bladimz
05-10-2013, 08:00 PM
Go Titans!

http://clarksvillesportsnetwork.com/wp-content/uploads/2012/05/Tennessee-Titans-logo-5.gifPretty funny, BB

BillyBob
05-10-2013, 08:03 PM
Pretty funny, BB

Yeah, they're my team. Too bad they haven't been very good lately.

Alif Qadr
05-11-2013, 07:56 AM
Of course not, HOW DARE YOU insinuate that corporations do anything wrong on this forum or would charge taxpayers for their mistakes. How terribly rude of you

Common,
You know as well as others and myself, that the average citizens be they consumers of products and services or nor, ALWAYS FOOT THE BILL. It is part of the reason why the Federal Reserve Banking System exists; to shield corporations (banks included) from their skullduggery.

Chris
05-11-2013, 08:28 AM
Of course not, HOW DARE YOU insinuate that corporations do anything wrong on this forum or would charge taxpayers for their mistakes. How terribly rude of you

Where do you come up with these unimaginative straw men, common? It really amazes me.

simpsonofpg
05-11-2013, 08:47 AM
Of course not, HOW DARE YOU insinuate that corporations do anything wrong on this forum or would charge taxpayers for their mistakes. How terribly rude of you

The lawyers have already lined up and I am thinking about $500 an hour of our money. Way to go Washington, ya'll are right on top of things.