Relevant:
- BofA May Sell Contracts on $300 Billion in Loans, Reuters Says
- Moynihan Said to Testify in House BofA-Merrill Probe
- Bank of America Posts Loss After Firm Repays Bailout
- BofA's Moynihan `Surprised' by New York Fed Loan Putback Demand
- Mortgage Debacle Costs U.S. Banks $66 Billion as Bad Home Loans Sap Profit
2011-01-21 — bloomberg.com
"Brian T. Moynihan, 51, who started as chief executive officer a year ago, booked $12.4 billion in 2010 impairments on credit-card and mortgage units purchased by predecessor Kenneth D. Lewis. The 2008 acquisition of Countrywide Financial Corp., then the largest U.S. mortgage originator, has saddled the bank with lawsuits and demands to repurchase bad loans."
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