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Who Wants To Sue Bank Of America?

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So far those on Team "I'm here for the gang bang" include PIMCO, BlackRock, MetLife, TCW Group and the NY Fed but there is always room for one more. Surely someone else out there is feeling incensed about some stuff that went down at Countrywide and is looking to take action.

In related news, I know this must seem like bad news for Bank of America and maybe it is. But let's focus on the positive-- it's great news for someone and that someone is [drum-roll please]...ANGELO MOZILO, PROVEN ORACLE! For those whose memories don't go back further than last night, recall that on June 26, 2008, His Orangeness had this to say at the last CFC shareholder meeting:

Bank of America “will reap the benefits of what we have sowed.”

I.e. the greatest veiled threat ever, and the short version of: "Those suckers don’t even have a clue what they’re in for. Seriously, the long-term effects, merely taking lawsuits into account, will be not unlike having a scalding hot poker violently inserted where the sun don’t shine. [pauses for effect] They might as well have bought an asbestos company. In fact? Probably would’ve been better off doing so. Honestly, though, this deal is like getting a very expensive answer to the question, ‘what does it feel like to be ass-raped for an eternity?’ [shakes head at the thought, stiles laughter].

So he's got to be feeling prettay prettay prettay good right now.

NY Fed Part of Group Suing BofA Over Mortgage Securities [CNBC]

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