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I just find this delightful beyond belief. The Knights of Columbus - yes those guys, the catholic fraternity with the funny hats that march in your local parades- have filed a lawsuit against Bank of America, charging broad and deep fraud and misconduct.
It's real and it's serious.
Turns out they do have standing -they own some bundled mortgage backed securities. And they charge all the wrongdoing we discuss here at length, from cheating about the MBS quality, to cheating in deeds and mortgage registration, to foreclosure fraud. Here's a link to a Bloomberg article
http://www.bloomberg.com/news/2011-0...n-lawsuit.html
Next time these guys march past you, clap a little louder.
It's real and it's serious.
Turns out they do have standing -they own some bundled mortgage backed securities. And they charge all the wrongdoing we discuss here at length, from cheating about the MBS quality, to cheating in deeds and mortgage registration, to foreclosure fraud. Here's a link to a Bloomberg article
http://www.bloomberg.com/news/2011-0...n-lawsuit.html
Next time these guys march past you, clap a little louder.
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