Coffee Sipping Big Board Stocks

[EZ2]

Bank of America ~~~ BA

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Washington's Cash Machine

Bank of America is expected to pay nearly $17 billion to settle U.S. Department of Justice accusations that it packaged low-quality mortgages into securities and sold them to investors in the run-up to the financial crisis. The settlement—approximately equal to the bank's total profit for the past three years—is the largest ever reached between the U.S. and a single company. More than $9 billion is expected to be in cash. Our story examines the details of the deal, which could be announced as early as today, how it was reached, and the implications for the bank. We also look at the beneficiaries of the settlement, which could include a handful of states such as California, Delaware, Illinois, Kentucky, Maryland and New York. Despite the colossal payout, we note, the deal could provide a turning point for BofA, whose chief executive has spent much of his 4½-year term at the bank wading through litigation.

http://online.wsj.com/articles/the-10-point-gerard-baker-on-foley-rescue-mission-boa-settlement-the-ascent-of-vanguard-and-more-1408618118