• Bnet.com, Tuesday, August 9, 2011 10 AM

If the government can't do it, leave it to the musical "Chicago"'s "Seven Merry Murderesses." AIG slipped BoA a Mickey Finn with its $10 billion lawsuit to recover more than $10 billion in losses on $28 billion of investments in mortgage backed securities. Could the ladies be preparing poison for the rakes at Goldman Sachs, JPMorgan Chase and Deutsche Bank, too? Bnet columnist Constantine von Hoffman says "yes."

The news sent BoA stock swooning like a Bob Fosse dancer, and, notes von Hoffman, that was before BofA's late day non-response to Fannie Mae's demands for more settlement money. He says that the bank put out flackage that it could "withstand demands for compensation on soured loans: We are considering a number of potential responses to this ... It is unknown whether Fannie Mae's continuing claims will result in increased representation and warranty liability."

Writes von Hoffman, "Never a good sign when a bank has to reassure you that it has money. (Full disclosure: Some -- not much -- of the money that the bank is telling everyone it has is mine.)" Some of it is mine, too.

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