Judes Tells Bank of America CEO Brian Moynihan He Must Testify in MBIA Lawsuit

Bank of America CEO Moynihan must testify in MBIA lawsuit: judge

(Reuters) – A New York judge has ruled that Bank of America (BAC.N) CEO Brian Moynihan must testify in a lawsuit brought by bond insurer MBIA Inc.(MBI.N) which claims the bank fraudulently induced it to insure risky mortgage-backed securities.

The judge said Moynihan could provide relevant testimony in the case due to his position as CEO, former president of investment banking and the fact that he oversaw the process of integrating Countrywide into Bank of America.

Bank of America acquired mortgage lender Countrywide in July 2008. MBIA filed a Countrywide later that year. In 2009, MBIA claimed Bank of America was liable for Countrywide’s conduct.

Bank of America, the second-largest U.S. bank by assets, is fighting several legal cases following the global financial crisis and had sought to block MBIA efforts for Moynihan to give evidence.

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Comments
4 Responses to “Judes Tells Bank of America CEO Brian Moynihan He Must Testify in MBIA Lawsuit”
  1. Beth A. says:

    Bahaaaaahaaaahaaa….double f.u. to Brian — burn in Hell you bankster piece of sh*t.

  2. DolleyMadison says:

    He’ll say “I don’t recall” to every question and the judge will pat him on the head and he’ll go on his merry way to defraud more innocents…Although I find it hilarious that these guys are turning on one another! LOve it when they eat their own!

  3. javagold says:

    Fuck You Moynahan

  4. leapfrog says:

    HAHAHAHA! Cue the laughing mouse!

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