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State AGs And Banks Prepare Fraudclosure Settlement, Bailout Number Two For BofA Imminent

By Implode-Explode Heavy Industries

``CNBC's Diana Olick reports that the investigation into the biggest financial fraud in recent history is about to be shelved: the reason, state AGs are nearing a settlement with banks, which will slap a few wrists, will see banks put some lunch money in a settlement fund, will result in some principal reductions, and everything will be well again, as banker bonuses surpass 2009 levels (as noted previously).''

Full post as published by Mortgage Lender Implode-o-Meter on November 18, 2010 (boomark / email).