Bank Mortgage Settlements Total $144 Billion——Where Did It Go?

Bank Mortgage Settlements Total $144 Billion–Where Did It Go?In 2011, Bank of America agreed to pay $8.5 billion to mortgage bond holders like Blackrock and Pimco for loans mostly originated by Countrywide, so obviously something went terribly wrong there.In 2012, the five largest banks agreed to pay $25 billion in penalties and “borrower relief,” so very well done there.

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