How Under Reserved is BAC?
From The Big Picture
February 21, 2013 - 8:30am
Via Manal Mehta: Bank of America is trying to settle $108 billion of losses with a $8.5bn settlement. This “settlement” forms the basis for BAC’s private label putback reserves. If deal doesn’t go through, there’s a HUGE problem for BAC as it would be severely under-reserved. From the transcript: MR. ROLIN: I’m handling motion sequence [...]
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