Bank of America’s Mortgage Headaches

Bank of America Chairman Brian Moynihan spoke with Bloomberg Television anchor Erik Schatzker today, where he said that legal costs stemming from defective mortgages are largely behind it. Moynihan said, “If you look at the different components of liability and the amount of settlements, whether it’s the RMBS cases, yes, it’s behind us…Embedded in that is often the question, OK, that’s over, now you can go concentrate on running the company. The answer is, we were running the company” all along.