Wall Street's New Nightmare

November 2011
Forbes Asia;Nov2011, Vol. 7 Issue 13, p119
The article reports on Texas lawyer Kathy Patrick working on a 8.5 billion dollars deal with Bank of America Corp. (BofA) over so-called mortgage put-backs. BofA wanted Patrick's clients to assure they would not go after the bank with separate claims over the same mortgage pools. The financial industry and the U.S. administration are swinging around a potential 20 billion dollars settlement being forced on BofA by state attorneys general over improper foreclosure practices.


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