To be fair, the Justice Department hasn’t actually thrown out that figure, but it did scoff at Brian Moynhian’s offer of $13 billion, so.

Bank of America met with the Justice Department in Washington on Tuesday to negotiate a possible mortgage-securities settlement, according to people familiar with the matter. Lawyers for Bank of America had requested the meeting, but it ended Tuesday with no progress made toward a final deal, people familiar with the discussions said. The bank is offering $13 billion, to be paid in both cash and consumer relief, but the Justice Department is asking for billions more, according to people familiar with the matter.

BofA Offers $13 Billion to Settle U.S. Mortgage Probe [WSJ]

17 comments (hidden to protect delicate sensibilities)
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Comments (17)

  1. Posted by guest | July 16, 2014 at 2:43 PM

    is moynihan's life just one continues sad trombone tone?

  2. Posted by guest | July 16, 2014 at 2:43 PM

    hey!

    but yeah pretty much.

    -b moy

  3. Posted by Quant me maybe... | July 16, 2014 at 2:53 PM

    Isn't there a statute of limitations on this stuff?

    >At some point this goes from being a form of penalty to being a shake-down.

  4. Posted by guest | July 16, 2014 at 2:59 PM

    er, the mortgage stuff in question was not that long ago.

    -calendar quant

  5. Posted by Guest | July 16, 2014 at 3:06 PM

    He signed up for this. When Lewis got the boot he lobbied hard for the job while more sane(outside) CEO's took a pass. No sympathy.

  6. Posted by Captain Oblivious | July 16, 2014 at 3:14 PM

    Of course he wanted to become CEO the parachute is loaded with gold bricks on the way down. He's not that stupid. After that asshat Ken Lewis he probably looks like Warren Buffett.

  7. Posted by man the barricades | July 16, 2014 at 3:27 PM

    I think at some point Holder will just announce that it's illegal to be a banker.

  8. Posted by Guest | July 16, 2014 at 3:29 PM

    yes, when a republican takes the Presidency.

  9. Posted by Jon sux | July 16, 2014 at 4:10 PM

    Are you sure Shazar didn't write this headline and just put Bess as the author??????

  10. Posted by Guest | July 16, 2014 at 4:27 PM

    What really stops them from saying "fuck you"? A criminal charge that has no ramifications? Blocking a TBTF bank from doing US transactions?

    – Guy who is probably an idiot

  11. Posted by Guest | July 16, 2014 at 4:34 PM

    I was going to say it probably would be bad PR, but the big banks have already basically been vilified as bringing the world to the edge of collapse so yeah, why not?

    - Guy who is also probably an idiot, but would be interested to see the above scenario play out

  12. Posted by Captain Oblivious | July 16, 2014 at 4:36 PM

    Geithner outlines all of this in his book. He called it. Old Testament theory, someone has to pay. Politicians are the biggest scumbags on the planet and we let them continually fuck us over year after year after year

  13. Posted by Guest | July 16, 2014 at 4:46 PM

    BoA already paid to save Countrywide and Merrills

  14. Posted by Parabolic | July 16, 2014 at 4:47 PM

    Speaking of mini-muffins….check out Diane Von Fursterburg. http://nypost.com/2014/07/11/sun-valley-power-cou

  15. Posted by JRzer | July 16, 2014 at 6:32 PM

    Its (sorry, couldn't resist)

  16. Posted by stop bitching | July 21, 2014 at 9:35 PM

    Yes, which is why so many people voted for a Democrat 2 cycles in a row you dunce

  17. Posted by ufo | July 21, 2014 at 9:37 PM

    FAIL