Financial 411: Weekly Business Roundup
Jul 01, 2011•5 min•Ep. 654
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Episode description
The ghost of mortgage-backed securities reappeared this week. Bank of America agreed to pay $8.5 billion to settle claims with several major institutional investors who said they had been misled about the poor quality of mortgage-backed securities. These were bonds purchased from Countrywide Financial, which was later absorbed by Bank of America.
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