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Wed Nov 28, 2012, 01:21 PM

Bank of America CEO Brian Moynihan Apparently Can't Remember Anything

Thank God for Bank of America CEO Brian Moynihan. If you're a court junkie, or have the misfortune (as some of us poor reporters do) of being forced professionally to spend a lot of time reading legal documents, the just-released Moynihan deposition in MBIA v. Bank of America, Countrywide, and a Buttload of Other Shameless Mortgage Fraudsters will go down as one of the great Nixonian-stonewalling efforts ever, and one of the more entertaining reads of the year.

In this long-awaited interrogation Bank of America has been fighting to keep Moynihan from being deposed in this case for some time Moynihan does a full Star Trek special, boldly going where no deponent has ever gone before, breaking out the "I don't recall" line more often and perhaps more ridiculously than was previously thought possible. Moynihan seems to remember his own name, and perhaps his current job title, but beyond that, he'll have to get back to you.

The MBIA v. Bank of America case is one of the bigger and weightier lawsuits hovering over the financial world. Prior to the crash, MBIA was, along with a company called Ambac, one of the two largest and most reputable names in what's called the "monoline" insurance business.

Bank of America: Too Crooked to Fail

The monolines sell a kind of investment insurance if you invest in a municipal bond or in mortgage-backed securities backed or "wrapped" by a monoline, you have backing in case the investment goes south. If a municipality defaults on its bond payments, or homeowners in a mortgage-backed security default on their mortgage payments, the investors in those instruments can collect from the monoline insurer.



http://www.rollingstone.com/politics/blogs/taibblog/no-evidence-he-was-stoned-but-bank-of-america-ceo-brian-moynihan-apparently-doesn-t-remember-much-of-the-last-four-years-20121127#ixzz2DXigji7T

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Reply Bank of America CEO Brian Moynihan Apparently Can't Remember Anything (Original post)
The Straight Story Nov 2012 OP
geckosfeet Nov 2012 #1
The Straight Story Nov 2012 #2
SDjack Nov 2012 #3
Egalitarian Thug Nov 2012 #4
BadgerKid Nov 2012 #5

Response to The Straight Story (Original post)

Wed Nov 28, 2012, 01:43 PM

1. Funny how all these highly paid psychopaths are hired for their "management skills and ability"

and when they get called on to testify over wrongdoings they suddenly turn into the dumbest people in the room.

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Response to geckosfeet (Reply #1)

Wed Nov 28, 2012, 01:44 PM

2. And one wonders where fox/mccain/etc are on these things(nt)

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Response to The Straight Story (Original post)

Wed Nov 28, 2012, 02:03 PM

3. Actually, Brian always remembers when it's time to increase

his compensation package.

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Response to The Straight Story (Original post)

Wed Nov 28, 2012, 02:14 PM

4. We need a count, man! Reagan couldn't recall 186 times IIRC.

 

& R

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Response to The Straight Story (Original post)

Wed Nov 28, 2012, 02:49 PM

5. Well, isn't that special?

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