US Government Agency to Sue Big Banks?
It probably doesn't need repeating, but first the government forces banks to lend money to people who have very questionable credit, then when those people default, they decide to sue those same banks and accept no blame for the two institutions (Freddie and Fannie) that were responsible for guaranteeing these mortgages. That makes sense but only in a Barney Frank world...
Meanwhile, the Fed has asked BofA for contingency plans in case the economy turns for the worst. Hmm...not a bad way to force BofA into a large settlement (ie. to extort billions from the bank).