The top federal prosecutor in Manhattan filed a lawsuit today that alleges Bank of America Corp. cost American taxpayers more than $1 billion when it sold toxic mortgages — originally issued by Countrywide Financial — to the government controlled Fannie Mae and Freddie Mac.
NPR's Margot Adler explains it like this to our Newscast unit:
"U.S. Attorney Preet Bharara described the conduct of Countrywide as 'spectacularly brazen in scope.'
Marijuana legalization is back on the ballot this year. California voters defeated a legalization proposal in 2010, but now similar measures have cropped up in three more Western states. This time around, some of the most intense opposition is coming from the earlier pioneers of legalization — the medical marijuana industry.