| Author | Message | ||
     Ashton Side Hero Username: Ashton Post Number: 8073 Registered: 05-2008 Posted From: 66.90.104.94 Rating: N/A |
http://www.msnbc.msn.com/id/39740300/ns/business-real_estate / http://www.zerohedge.com/article/pimco-and-new-york-fed-said -seek-bank-america-repurchase-mortgages The New York Federal Reserve wants its money back from Bank of America. CNBC reported Tuesday that the New York Fed and money management firm PIMCO are part a consortium of eight large institutions suing Bank of America for failing to correctly handle loans that were packaged into bonds. Bloomberg earlier reported that the consortium is seeking to force the bank to buy back $47 billion of mortgage bonds. Bank of America said it would fight the move. "If you think about people who come back and say, 'I bought a Chevy Vega, but I want it to be a Mercedes with a 12-cylinder,' we're not putting up with that," Bank of America Chief Executive Brian Moynihan said on a conference call with analysts. "We want to enforce the holders' contract rights," Kathy Patrick, the lead attorney representing the bond holders, told CNBC. "Today's action begins the clock ticking ... If these issues of non-performance are not addressed and cured, then our clients will be able to enforce their rights in court." CNBC said the New York Fed has an interest in the mortgage securities through the Maiden Lane Partnerships that it set up in 2008 to manage transactions involving Bear Stearns and AIG. The move ratchets up the pressure on the financial sector over faulty foreclosures. Stocks dropped broadly on worries that Bank of America would be forced to buy back mortgages, and the cost of insuring the bank's debt surged in the credit default swap market. | ||
| Sagar Hero Username: Sagar Post Number: 16405 Registered: 09-2007 Posted From: 174.23.121.56 Rating: N/A |
USA http://www.chalanachithram.com/discus/messages/125/127044.ht ml?1287462995 | ||
| Mrhyderabad Side Hero Username: Mrhyderabad Post Number: 7759 Registered: 01-2008 Posted From: 167.230.38.119 Rating: N/A |
y??? Btw, india or usa? If god doesn't like the way I live, let him tell me, not you | ||
| Rebel Side Hero Username: Rebel Post Number: 8521 Registered: 02-2008 Posted From: 151.151.109.19 Rating: N/A |
coz BAC topped analysts expectations.... The bank reported stronger income over a year ago in its mortgage banking and credit card businesses, and also said consumer credit costs were lower. The bank attributed the loss to a $10.4 billion one-time charge that it was taking as a result of new limits on debit card fees that are part of the Dodd-Frank Act. Excluding this charge, net income was $3.1 billion, or 27 cents per share. That topped analysts' forecasts. According to Thomson Reuters, analysts expected the bank to earn 16 cents per share for the quarter, excluding charges. | ||
| Sagar Hero Username: Sagar Post Number: 16402 Registered: 09-2007 Posted From: 63.118.230.7 Rating: N/A |
hmm.... evaranna emanna big investment cheyyali anukuntey like property... oka 4 months aaganDi  | ||
| Ashton Side Hero Username: Ashton Post Number: 8058 Registered: 05-2008 Posted From: 66.90.104.94 Rating: N/A |
It doesn't matter. BOFA also manipulated the balance sheet in the past untill it requested for bail out. http://www.huffingtonpost.com/henry-blodget/bank-of-america- says-its_b_511297.html | ||
| Mrhyderabad Side Hero Username: Mrhyderabad Post Number: 7745 Registered: 01-2008 Posted From: 167.230.38.119 Rating: N/A |
There is a diff. Lehman was an investment bank and BoFA is into retail banking (Till they got ML). If god doesn't like the way I live, let him tell me, not you | ||
| Machomegastar Side Hero Username: Machomegastar Post Number: 5079 Registered: 02-2008 Posted From: 208.105.1.254 Rating: N/A |
 peoples star YSR amar rahe!!! | ||
| Ashton Side Hero Username: Ashton Post Number: 8057 Registered: 05-2008 Posted From: 66.90.104.94 Rating: N/A |
adige vadu ledu ane kada print chesedi... 1 month ago, Govt(Fed) shutdown avvakunda some billion/trillion dollars print chesaru... Now with BOFA & Citi losses another trillion dollars to prop up.
Very Good Question...But, I don't have the answer. | ||
| Linkmaster Hero Username: Linkmaster Post Number: 16982 Registered: 02-2008 Posted From: 205.172.134.23 Rating: |
kummeyandi.. maa vaata maakicheyandi.. ee low or 0% interest rates ki oka million $s dobbali ani aasa naaku.. maargam teliyatam ledu | ||
| Machomegastar Side Hero Username: Machomegastar Post Number: 5078 Registered: 02-2008 Posted From: 208.105.1.254 Rating: N/A |
veedu print cheste veedini adigedi evadu?? dollar still stays at same level who is contorlling american currnecy peoples star YSR amar rahe!!! | ||
| Ashton Side Hero Username: Ashton Post Number: 8056 Registered: 05-2008 Posted From: 66.90.104.94 Rating: N/A |
Dow already down by 127 points.. But BAC is in green... | ||
| Kamal Hero Username: Kamal Post Number: 18342 Registered: 08-2009 Posted From: 155.94.62.222 Rating: N/A |
double dip recession aa next? sanka naaki potaaru janalu ! Nisumbha sumbha mardhini, prachanda munda khandini .. Vaney vaney prakasini, Bhajami Vindhya vaasini .. | ||
| Ashton Side Hero Username: Ashton Post Number: 8055 Registered: 05-2008 Posted From: 66.90.104.94 Rating: N/A |
monna obama gadu antunnadu... 10 years ki 10 trillion print cheyyali ani...sheer utter incompetence on his part.... emi peekalenodu president ayithe ilage vuntundi.. mundu black hole pettukuni today Geithner gadu economy is healing ani ep statements... | ||
| Sagar Hero Username: Sagar Post Number: 16401 Registered: 09-2007 Posted From: 174.23.121.56 Rating: N/A |
malla inko recession line lo vunaTTu vundhi..........  2011 first quarter lo telusthaadhi... yenTi andhari paristhithi ani... | ||
| Ashton Side Hero Username: Ashton Post Number: 8054 Registered: 05-2008 Posted From: 66.90.104.94 Rating: N/A |
http://finance.yahoo.com/q?s=BAC Their stock is up this morning despite $7.3 bil losses.... Govt/Fed should stop propping up this bank anymore... | ||
| Ashton Side Hero Username: Ashton Post Number: 8053 Registered: 05-2008 Posted From: 66.90.104.94 Rating: N/A |
Well, they'd still ask Feds to bail them out and then rip taxpayers off.... $5.4 billion lo valla management bonuses + Tarp money entha vundo ? Countriwide financials 1 or 2 months lo shutdown cheyyochu if they don't perform well.. http://www.prnewswire.com/news-releases/institutional-holder s-of-countrywide-issued-rmbs-issue-notice-of-non-performance -identifying-alleged-failures-by-master-servicer-to-perform- covenants-and-agreements-in-more-than-47-billion-of-countryw ide-issued-rmbs-105221854.html | ||
| Machomegastar Side Hero Username: Machomegastar Post Number: 5077 Registered: 02-2008 Posted From: 208.105.1.254 Rating: N/A |
Analysts said the improving credit environment was a healthy sign, both for the bank and the broader economy. The bank set aside $5.4 billion in the quarter for credit losses, $2.7 billion less than the previous quarter and $6.3 billion less than the period a year ago. peoples star YSR amar rahe!!! | ||
| Ashton Side Hero Username: Ashton Post Number: 8052 Registered: 05-2008 Posted From: 66.90.104.94 Rating: N/A |
How can a large bank operate like this? Shut down this bank just like Lehmann brothers. | ||
| Gandhiguevara Hero Username: Gandhiguevara Post Number: 11198 Registered: 10-2009 Posted From: 98.210.96.94 Rating: N/A |
http://www.nytimes.com/2010/10/20/business/20bank.html?src=m v malli modalayyindhaa baba gaaru |
