“Hmm. Let’s see,” said the too-big-to-fail bank executive. “What ridiculously stupid, self-destructive thing can we accomplish today?
“I know, let’s sue ourselves.
“Yes, let’s sue ourselves. Let’s file a complicated foreclosure lawsuit against ourselves!”
This is apparently what some bailed-out bankers have been thinking as they continue to sift through the wreckage of their self-inflicted mortgage disasters. Click here to read a story by Zach Carter of the Huffington Post called “Bank of America Sues Itself.”
My thanks to Carter for digging up a similar piece I wrote in 2009 about Wells Fargo suing itself.
Click here to read that yarn, which I’d heard about from lawyers in Tampa, Fla. who run the Consumer Warning Network. Somehow, I’d forgotten all about this bizarre tale. Glad to see it cited years later.
This situation still makes me laugh out loud at my keyboard. And the next thing you know, these same bankers will be lobbying for tort reform, complaining about how all the lawyers are just ruining their business.