toxic mortgages


Feds Sue Bank Of America Over $1 Billion In Bad Loans Sold To Fannie Mae, Freddie Mac

Bank of America continues to crawl through the legal spanking machine because of its ill-fated, idiotic, utterly stupid decision to buy Countrywide Financial and its mountain of toxic mortgages in 2008. This time, it’s the U.S. government that has sued the bank over all the rotten loans it sold to Freddie Mac and Fannie Mae, both of which were bailed out by the feds in 2008. [More]