"Zombie Bank" BofA Still Outmaneuvering Attorneys General, Investors: Yves Smith of Naked Capitalism

Quick recap of the three major post-crisis mortgage fraud case settlements Bank of America has proposed:

- $8.5 billion settlement proposed in July awaits approval from investors- Settlement with the Attorneys General of over 40 states- Additional settlement, proposed this week, with several Attorneys General that would cut outstanding mortgages

There is quite a bit that is sketchy about these settlement propositions. They all contain clauses which absolve Bank of America of some or all liability for mortgage fraud, for example. Enter Yves Smith, purveyor of the well known blog Naked Capitalism. Smith is a leading commentator on the post-crisis mortgage securities fraud situation. We got her thoughts on where Bank of America, investors, and state attorneys general stand in the wake of the settlement propositions. Check out the audio above to hear what she had to say.