Bank of America is insolvent. Yet they are paying $137 million to settle state fraud cases and BofA is now admitting they are having to buy back fraudulent mortgage-backed securities.
Where are they getting the money to fund these settlements and buy-backs?
From confiscating and selling YOUR homes!
And just how are they able to confiscate your homes? Because the US Government gave tax credits to corporations that encouraged them to send high paying American jobs to other countries, removing the ability of millions of Americans to make their mortgage payments, thus setting them up to have their homes taken to save the bankers, while tricking Americans into thinking it was all their own fault!