Like to hear other interpretations of Bank of America’s quick and tidy settlement of its putback risk with Fannie and Freddie. The $1.28b. in cash to Freddie and $1.34b. in cash to Fannie certainly sounds like a sweetdeal to settle the oozing hole that was the Countrywide legacy.
Certainly Wall Street is reacting like BAC got a deal as the stock price is jumping up in pre-hours trading.
Update: And check out what BAC is doing to prepare for any WikiLeaks fallout — calling in a favorite contractor of federal security services. Booz Allen Hamilton is full of ex-military with a long history of working closely with the FBI, DEA, DoD, NSA, you name it. One angle possibly in play, how the release of any BAC data would ipso facto be a violation of federal anti-money laundering statutes, especially if the release included embarrassing interactions between the feds and BAC execs.
In fact it is not a stretch to think that the feds ordered Booz into BAC as part of the security state’s war on WikiLeaks. The bank could hardly say no.
