IT NEVER ENDS - U.S. Bancorp Sues Bank Of America Over $1.75 Billion Pool Of Fraudulent Countrywide Mortgages

Yes, another lawsuit related to Countrywide.  When are BofA shareholders going to sue former CEO Ken Lewis for leading the worst corporate takeover in U.S. history.  Here's a rundown of the recent stories involving BofA lawsuits:

• AIG Sues Bank Of America For $10 Billion Over 'Massive Mortgage Fraud'

• FDIC Objects To Bank Of America's $8.5 Billion Mortgage Fraud Settlement

• Fannie/Freddie regulator challenges BofA Fraud Agreement - Reuters

---
Forbes
U.S. Bancorp, one of the nation’s biggest banks, became the latest large financial firm to sue Bank of America, filing a lawsuit over $1.75 billion of mortgage loans on Monday on behalf of investors of the loans.
Acting as trustee of a trust that included 4,400 mortgage loans originated by Bank of America’s Countrywide unit, U.S. Bancorp claims Bank of America, the biggest bank in the U.S., must repurchase loans in the mortgage pool because Countrywide had agreed to do so if it misled investors about the quality of the loans.
“The Trustee seeks to compel Countrywide, and Bank of America as its successor-in-interest, to specifically perform their obligation to repurchase all of the loans that the Trustee has submitted as breaching loans,” the lawsuit filed in New York state court in Manhattan says.
Continue reading...
---