Bank of America on Pins and Needles, Again
Bank of America has just ended day 31 of its hearing over the $8.5 billion settlement with investors of some mortgage-backed securities. But with more testimony needed, there will be yet another delay in resolving the bank's troubles. With both Bank of New York Mellon and American International Group playing big roles in the hearing, investors may be wary of the pending outcome. In the video below, Motley Fool contributor Jessica Alling discusses the current setbacks and why they may actually be a good thing for investors.
Not the bank for you?
Bank of America is just one of the Wall Street banks being pummeled by legal battles stemming from the financial crisis. So it's not surprising that many investors are terrified about investing in big banking stocks after the crash. But the sector has one notable stand-out. In a sea of mismanaged and dangerous peers, it rises above as "The Only Big Bank Built to Last." You can uncover the top pick that Warren Buffett loves in The Motley Fool's new report. It's free, so click here to access it now.
The article Bank of America on Pins and Needles, Again originally appeared on Fool.com.Fool contributor Jessica Alling has no position in any stocks mentioned. The Motley Fool recommends American International Group and Bank of America. The Motley Fool owns shares of American International Group and Bank of America and has the following options: long January 2014 $25 calls on American International Group. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.