Calling foul while playing in the big leagues:
According to the Justice Department, five investors, including Wachovia Bank, bought roughly $850 million worth of the securities from Bank of America in early 2008. Federal officials claim that, as of June, at least 23 percent of the 1,191 securitized mortgages had defaulted or were delinquent. Investors’ losses so far total $70 million, the Justice Department said. An additional $50 million in losses is expected, the department said, citing an estimate from Fitch Ratings.
In reality, there are far more than just five investors who lost/are losing money from this deal. And it's also a good bet there are more guilty parties involved than just BofA.