January 7th, 2011
Business Insider: In August, Manal Mehta and Branch Hill Capital put together a presentation targeting Bank of America's potential exposure to mortgage fraud, as well as other problems in the mortgage market. Follow up:
Follow up:The presentation comes to a pretty damning conclusion: Bank of America's exposure could nearly halve its share price.
It's all about what capital Bank of America has in reserve for the scenario of mortgages having to come back on its balance sheet, the so-called putback process for mortgage backed securities (MBS) that were sold with misrepresentations.
Note: This presentation of 26 slides was put together by Branch Hill Capital which is short BAC stock. See the slide show at Business Insider......