Uncle
Sam suing BofA
Bob Choi
The government is going to sue Bank of America and other investment
banks for understating the risks of the mortgage-backed securities they sold to
the insurance companies which precipitated the subprime crisis of 2008.
l shall keep my eye balls peeled on the
outcome. If Uncle Sam wins,
insurance companies like AIG might get some compensation with judgment. NOW you why the government even bothers
to sue...BECAUSE it owns over 80% of AIG!
Who knows? Share prices of
AIG might rise at expense of bofA and other investment banks.