How about Bank of America's lawsuit with Fed regarding Countywide and FNMA FMCC?
I would think that story will get investors back into these two stocks.
From REUTERS:
The U.S. Justice Department has said it would seek up to $848.2 million, the gross loss it said Fannie and Freddie suffered on the loans. But it will be up to U.S. District Judge Jed Rakoff to decide on the penalty. Arguments on how the judge will assess penalties are set for December 5.
Any penalty would add to the more than $40 billion Bank of America has spent on disputes stemming from the 2008 financial crisis.
JP Morgan Chase is looking at this:
The government continues to investigate banks for conduct related to the financial crisis. The verdict comes as the government is negotiating a $13 billion settlement with JPMorgan Chase & Co to resolve a number of probes and claims arising from its mortgage business, including the sale of mortgage bonds.
I would think that story will get investors back into these two stocks.
From REUTERS:
The U.S. Justice Department has said it would seek up to $848.2 million, the gross loss it said Fannie and Freddie suffered on the loans. But it will be up to U.S. District Judge Jed Rakoff to decide on the penalty. Arguments on how the judge will assess penalties are set for December 5.
Any penalty would add to the more than $40 billion Bank of America has spent on disputes stemming from the 2008 financial crisis.
JP Morgan Chase is looking at this:
The government continues to investigate banks for conduct related to the financial crisis. The verdict comes as the government is negotiating a $13 billion settlement with JPMorgan Chase & Co to resolve a number of probes and claims arising from its mortgage business, including the sale of mortgage bonds.
