Suing Bank of America

Aug 11, 2011

AIG was one of the most vilified culprits of the financial crisis, but now the insurance giant says it was actually duped by Bank of America. AIG claims in a new $10 billion lawsuit that the Charlotte-based bank misrepresented the quality of its mortgage-backed securities. Host Frank Stasio gets a rundown on the lawsuit and examines whether a suit like this moves us any closer to repairing damage caused by the mortgage meltdown with Charlotte Business Journal finance editor Adam O'Daniel; Duke University law professor James Cox; University of North Carolina at Chapel Hill business professor Alexander Arapoglou; and Center for Responsible Lending COO Deborah Goldstein.