Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Historic Bank Settlement Proves The Right Wing Wrong
Posted
August 23, 2014
Views
62,543
Likes
1,694
Comments
364
Engagement
3.29%
August 23, 2014
62,543
1,694
364
3.29%
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6:10Now Playing"Bank of America Corp has reached a $16.65 billion settlement with U.S. regulators to settle charges that it misled investors into buying troubled mortgage-backed securities.
The settlement announced on Thursday by the U.S. Department of Justice calls for the second-largest U.S. bank to pay a $9.65 billion cash penalty, and provide $7 billion of consumer relief to struggling homeowners and communities.
It is expected to resolve the vast majority of the Charlotte, North Carolina-based bank's remaining liabilities tied to its purchases of Countrywide Financial Corp, once the nation's largest mortgage lender, and Merrill Lynch & Co.
"* The Young Turks host Cenk Uygur breaks it down.
*Read more here from The Huffington Post / Reuters:
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'Your Country Is Just Not That Into YouHow the Media, Wall Street, and Both Political Parties Keep on Screwing YouEven After You’ve Moved On' by Jimmy Dore. Buy it here
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