sell the toxic loans to fannie
mae and freddie mac.
while bank of america reaped a
windfall, fannie and freddie
were stuck with huge losses and
foreclosed properties.
in another major settlement,
bank of america and nine other
major lenders have agreed to
pay $8.5 billion to settle
claims of wrongfully foreclosing
on millions of american
homeowners.
the settlement covers a number
of foreclosure abuses including
flawed paperwork, robosigning,
and wrongly modified loans.
the settlement will end in and
in a review of all foreclosures,
meaning the banks could be
avoiding billions of dollars in
further penalties.
diane thompson, a lawyer with
the national consumer law
center, criticized the deal,
telling the associated press --
opposition activists in bahrain
are vowing to continue protests
despite the court's decision to
uphold the prison terms of 13