“Last week when word broke out about the U.S. Government suing Bank of America under the False Claims Act for a $1 Billion, two important issues were overlooked by the media that could  very well affect the legitimacy of this case and could impact U.S. monetary policy for the next four years.

The first issue is a legal issue that could very well destroy the government’s civil complaint depending on how liberal or conservative the judge is.  How can the federal government sue Bank of America under the False Claims Act which imposes liability on those who defraud the federal government, over something Countrywide did prior to Bank of America’s acquisition of Countrywide Financial?”

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