News Column

Statement on Bank of America Settlement

August 6, 2014



BURLINGTON, Vt., Aug. 6 - Sen. Bernie Sanders (I-Vt.) issued the following statement today in response to published reports that Bank of America tentatively agreed to pay between $16 billion and $17 billion to settle an investigation into its sale of mortgage-backed securities before the financial crisis:

"The greed, recklessness and illegal behavior of Bank of America and other Wall Street firms caused a horrendous recession which cost millions of Americans their homes, jobs and life savings. Given the reality that, as part of the bailout, the Bank of America received more than $1 trillion in virtually zero-interest loans and that nobody from the company has yet gone to jail, this is a very modest settlement."

Read this original document at: http://www.sanders.senate.gov/newsroom/press-releases/statement-on-bank-of-america-settlement


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Source: Congressional Documents & Publications


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