Ho Hum - it's ony $16 billion

BofA has been fined abother $16 billion, which makes a total of $70 billion for the actions of Countrywide re mortgage fraud. This particular program “lasted only nine months yet managed to write almost 30,000 subprime mortgages, which Fannie Mae and Freddie Mac bought for about $5 billion. Defect rates on stated-income loans (in which the borrower’s income isn’t verified) reached 70 percent.”