Bankster of America Sued By Homeowners To Block $8.5 Billion Mortgage Settlement

[marmar]

NEW YORK (Reuters) - A group of borrowers sued Bank of America Corp to block its proposed $8.5 billion settlement over mortgage-backed securities losses, and dozens of additional investors lodged objections to that accord.

The challenges were filed as investors who bought securities covered in the settlement faced a Tuesday deadline over whether to intervene in the case, which is overseen by New York State Supreme Court Justice Barbara Kapnick in Manhattan.

Among those to object is American International Group Inc, which is separately suing Bank of America for $10 billion for misrepresenting the quality of mortgage-backed debt it bought. Others that have objected include the Federal Deposit Insurance Corp, attorneys general of New York and Delaware, and a variety of banks, insurers and investment funds. Some objectors want to move the case to federal court. ..............(more)

The complete piece is at: http://www.huffingtonpost.com/2011/08/30/bank-of-america-sued-by-h_n_942425.html

[dixiegrrrrl]

1. Good!!!!!! Now if they can only find a Federal Judge that has not been bought off......

Remember that Bush/Rove packed the Federal and Appellate courts with "their" judges, and those judgeships are for a a long long time.
Which explains there are so many pro-bank/pro-business lawsuits overturned at the Federal level.