Following up on my recent post on the cases, I had the opportunity to speak with Colin O’Keefe of LXBN TV regarding the recent fraud suits filed by the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) against Bank of America.
The suits accuse Bank of America of allegedly defrauding buyers of mortgage-backed securities by lying about the quality of the home loans involved.
BofA maintains that buyers were savvy enough to make informed decisions.
In the interview, I explain the basics of the suits and also share my thoughts on Bank of America’s routine dismissal of such arguments when they are made by correspondents to BofA.
To watch the interview, please click here.