Last witness Adam Levitin testifies against $8.5 billion BofA deal - "My opinion is the settlement was not entered into in good faith"

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Last witness Adam Levitin testifies against $8.5 billion BofA deal – “My opinion is the settlement was not entered into in good faith”

Last witness Adam Levitin testifies against $8.5 billion BofA deal – “My opinion is the settlement was not entered into in good faith”

Wishes really can come true!


Reuters-

An expert witness testified on Thursday that Bank of America Corp’s (BAC.N) proposed $8.5 billion settlement with mortgage bond investors is “not reasonable” and rife with conflicts of interest, as opponents made a final push to derail the deal.

Adam Levitin, a law professor at Georgetown University in Washington, is the last scheduled witness in a long-running case over whether the deal should be approved.

“My opinion is the settlement was not entered into in good faith,” Levitin said in state court in New York.

[REUTERS]

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2 Responses to “Last witness Adam Levitin testifies against $8.5 billion BofA deal – “My opinion is the settlement was not entered into in good faith””

  1. Stupendous Man - Defender of Liberty, Foe of Tyranny says:

    What a hoot.

    I submit that if the lawyers and judges don’t know who Levitin is, or from where his experience and ability to testify derive, then they are not qualified to sit or represent in the matter.

    Bigger hoot is that Levitin was called by AIG.

  2. DolleyMadison says:

    And where does the JUDGE get his ability to hear this case? bet he knows diddly about the securitization process.

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