Bank of America along with sixteen different companies are being sued by the government due to selling billions of dollars. All over the United States several banks have gotten sued. They have sold them to Fannie Mae and Freddie Mac who are both agencies that buy mortgage loans and mortgage securities given to their lenders. Fannie and Freddie both had filled a lawsuit by the Finance Agency given that their mortgages were sold with false and confusing statements in their agreements. Also including other banks that were being suied had the same false agreements. The agreements had been overstated their ability to get a loan and being able to pay it all back.
Opinion: I believe that Bank of America and other banks should be sued because of the actions they have done. Always think about what you're going to do before you do something. It was a bad idea for Bank of America and other banks to be selling their money because they should have known that they could have gotten sued.
http://www2.journalnow.com/business/2011/sep/03/wsbiz01-federal-government-sues-bank-of-america-ot-ar-1355555/
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