Statement on Bank of America Settlement

BURLINGTON, Vt., Aug. 6 – Sen. Bernie Sanders (I-Vt.) issued the following statement today in response to published reports that  Bank of America tentatively agreed to pay between $16 billion and $17 billion to settle an investigation into its sale of mortgage-backed securities before the financial crisis:

“The greed, recklessness and illegal behavior of Bank of America and other Wall Street firms caused a horrendous recession which cost millions of Americans their homes, jobs and life savings. Given the reality that, as part of the bailout, the Bank of America received more than $1 trillion in virtually zero-interest loans and that nobody from the company has yet gone to jail, this is a very modest settlement.”