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  1. #1

    Arrow Bank of America is sued by the U.S. for $1 billion

    Bank of America is sued by the U.S. for $1 billion for allegedly selling bad loans to Fannie Mae and Freddie Mac.

    Follow coverage of breaking news on CNN TV, CNN.com and CNN's mobile apps.

  2. #2
    The suit alleges that "the Hustle" was a nickname for the bank's "High-Speed Swim Lane" or HSSL program, designed to streamline the mortgage origination process.


    The government says the program was started by mortgage lender Countrywide Financial, but continued after it was purchased by Bank of America in 2008.

    http://money.cnn.com/2012/10/24/news...erica-lawsuit/

  3. #3
    Join Date
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    where no man has boldy gone
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    That's one billion Fannie and Freddie where's the other approx. 152 billion and counting? I know that these two corporations have been poorly run since I started following them in 95. They can blame the banks but F & F weren't paying attention to the books either. Corporate welfare at it's finest.

    http://www.mygovcost.org/2011/02/12/...-and-counting/
    It's almost been a year since we did our last show.Jay Bush my partner has been auditioning for the show Shark Tank and so this has put the show on hold. If he gets on Shark Tank, we will be terribly delayed. Good luck Jay. Either way we will one day continue the show and have the coolest global independent radio station out there. This is just a small video we did with one of our artists.Waiting for One and their tune 35 years. Check it out.
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