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Giantone · 07-31-2014, 04:28 PM

Again ,not what I wanted but they aren't walking away free either .

Judge Orders Bank of America to Pay $1.27 Billion in 'Hustle' Case - WSJ

Reverberations of the ruling could be felt widely. Bank of America, Goldman Sachs Group Inc. and other banks are weighing potential settlements with the Justice Department or U.S. housing regulators on a variety of mortgage matters that still are lingering more than five years after the financiaJudge Rakoff's decision could, in particular, complicate Bank of America's negotiations with the Justice Department in a separate, larger case over mortgage securities the bank sold to investors in the run-up to the financial crisis. The bank met with the Justice Department on Tuesday and Wednesday as part of that negotiation, according to people familiar with the matter, and raised its offer for what it is willing to pay.
The $1 million fine for Ms. Mairone could stand as a rare example of a Wall Street official having to pay a fine out of his or her own pocket for conduct related to the financial crisis. The judge issued guidelines for how the fine should be paid from her own income. A Bank of America spokesman declined to comment on whether the bank would assist Ms. Mairone in that effort.

07-31-2014, 04:28 PM	#13
Giantone Gamebreaker Join Date: Apr 2006 Posts: 14,600	Re: Wall Street Crime . Again ,not what I wanted but they aren't walking away free either . Judge Orders Bank of America to Pay $1.27 Billion in 'Hustle' Case - WSJ Reverberations of the ruling could be felt widely. Bank of America, Goldman Sachs Group Inc. and other banks are weighing potential settlements with the Justice Department or U.S. housing regulators on a variety of mortgage matters that still are lingering more than five years after the financiaJudge Rakoff's decision could, in particular, complicate Bank of America's negotiations with the Justice Department in a separate, larger case over mortgage securities the bank sold to investors in the run-up to the financial crisis. The bank met with the Justice Department on Tuesday and Wednesday as part of that negotiation, according to people familiar with the matter, and raised its offer for what it is willing to pay. The $1 million fine for Ms. Mairone could stand as a rare example of a Wall Street official having to pay a fine out of his or her own pocket for conduct related to the financial crisis. The judge issued guidelines for how the fine should be paid from her own income. A Bank of America spokesman declined to comment on whether the bank would assist Ms. Mairone in that effort. __________________ ....DISCLAIMER: All of my posts/threads are my expressed typed opinion and the reader is not to assume these comments are absolute fact, law, or truth unless otherwise stated in said post/thread.