NEW YORK (TheStreet) — Bank of America CEO Brian Moynihan had so much fun giving sworn testimony about the bank’s disastrous 2008 acquisition of Countrywide Financial to attorneys for MBIA, he appears to be angling for a chance to do it again.
MBIA is suing Countrywide for fraud and breach of contract related to 15 mortgage securities, a case that is being watched closely since Bank of America still has untold billions on the line in related cases. Bank of America CEO Brian Moynihan has repressed his memories of the disastrous acquisition of Countrywide
New York State Supreme Court Judge Eileen Bransten ruled in April that Moynihan would have to give testimony to attorneys for MBIA. Though Moynihan became Bank of America’s CEO after the Countrywide deal had been completed, he played an important role in overseeing the integration of the two companies. …
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Read the original: Bank of America’s Moynihan May Head Back for Countrywide Testimony