On Thursday June 4, 2009, several news items hit the tape which raise some concerns for Bank of America (BAC) over the near term regarding the potential for enhanced legal fee expenses and enhanced credit issues.First, Angelo Mozilo, former chairman of the once top U.S. mortgage lender Countrywide Financial -- which was acquired by BAC last year (the name was scrapped about 10 months later) -- and several other executives were accused by The Securities and Exchange Commission (SEC) of fraud. A criminal investigation has occurred based on emails in Mr. Mozilo warned of his company's "toxic subprime mortgages" at the height of the housing boom.On Sept. 26, 2006, there was an email that stated, "The bottom line is that we are flying blind on how these loans will perform in a stressed environment of higher unemployment, reduced values and slowing home sales." This ...

On close inspection, there are only two possibilities for the Geithner “Rescue Plan”: It’s an honest effort doomed to fail… or a blatant scam that just might work.

Treasury Secretary Geithner, we hereby dub thee “Turbo Timmy.”

As a number of you have informed me, the “turbo” moniker – as in, “doesn’t know how to use Turbo Tax” – has been around for a while now. With my many sources and ears on the street, I’m surprised I hadn’t heard it prior. (Or maybe it just went in one ear and out the other.)

Other honorable mentions in the SecTreas nickname contest include:

“Tycoon Tim” (for serving his rich masters) “Torpedo Tim” (for threatening to sink the economy) “Little Timmy Geithner” (after a hapless cartoon character with wish-granting fairy godparents) “Lollypop Guild” Geithner (after the obscure Wizard of ...