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Justice Department sues Bank of America

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Bank of America, the world’s second largest bank, is under fire again for its alleged actions during the financial meltdown. The Justice Department and the Securities and Exchange Commission are suing the bank for allegedly defrauding investors by selling them nearly $1 billion worth of mortgage backed securities in 2008. CNBC contributor Zachary Karabell explains the lawsuit on NewsNation.Aug.07.2013

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