2011-01-26bizjournals.com

"A new allegation claims Bank of America's Countrywide mortgage operation committed "massive fraud" in a lawsuit by big investors who say they were misled about the quality of mortgage-backed securities.

A dozen institutional investors, including TIAA-CREF Life Insurance Co. and New York Life Insurance Co., filed the complaint Jan. 24 in New York state Supreme Court, according to Bloomberg News."



Comments:

catherine at 16:02 2011-01-26 said:
WHEW, another 400,000 lost their incomes last week, lowest housing numbers in 47 years............SPENDING AT 5.5 TRILLION DOLLARS IN 4 YEARS.............foreclosures are blowing....(3 million this year probably)

but thank GOD THE LAWYERS ARE ALL EMPLOYED AND HAVE DECADES OF LAWSUITS OVER THIS TO PUT THOSE KIDDIES THRU COLLEGE.................those evil and greedy mortgage people are all gone, AND THE LAWYERS ARE NOW IN THE ROOM :lol: :lol: :lol: Permalink

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