BoA hit with $16 Billion penalty for MBS dealings

"pay around $9 billion in cash and the rest in assistance to struggling homeowners."

yeah...that's makes a lot of sense..the 'crime' was misleading investors who bought the bad mortgages, so the give 9b to the borrowers who created them

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BAC up over 1% this morning on the news.

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yep...I sold BAC and bought wells fargo in May...BAC up 4.5%, WFC up 2.5% since my smart move

dang it

I still think WFC the better company and buy though

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I still think WFC the better company and buy though
Warren Buffet agrees with yo

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big deal, the real question is whether LSURussian agrees with me