Bank of America’s $16 Billion Mortgage Settlement Less Painful Than It Looks | New York Times – Dealbook

From the article:

The Justice Department said on Thursday that it had so far recovered nearly $37 billion from big banks for their role in selling shoddy mortgages before the financial crisis.

Such a large number — intended to deter misdeeds in the future — suggests that Wall Street is being made to pay for its role in stoking the subprime debacle. Yet the financial pain inflicted by the settlements may not be as great in the end.

Leave a Reply

Your email address will not be published. Required fields are marked *