Federal prosecutors have asked for a sum of US$864m. Bank of America has already provided for $23b, on top of about $50b of foreclosure losses, legal fees and related costs which it has already disbursed. The LA Times says, however: 'The bank and analysts foresee its already hefty legal tab ballooning by billions more.' Referring to the Countrywide takeover, Jeffrey Manns, professor of law at George Washington University, says: 'It was one of the worst deals done in the height of the property fiasco.' Other unresolved cases are coming down the pipeline - including a suit filed by the Federal Housing Finance Agency. Source: Los Angeles Times
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