Influence Explored: Bank of America, BlackRock, Bank of New York Mellon all invest heavily in Congress


An article from Reuters yesterday highlights an $8.5 billion settlement reached between Bank of America and 530 trusts currently holding $425 billion in mortgage bonds.

The mortgages were sold to investment banks by Countrywide during the real estate boom, and became worth substantially less as homeowners began defaulting on their loans. Countrywide was later purchased by Bank of America, and is now responsible for Countrywide’s debt.

Mortgage bond investors are being organized by Bill Frey of Greenwich Financial to demand that big Wall Street firms buy back mortgage bonds created using home loans that later went bad.

Here’s a look at the influence behind the companies mentioned in the piece:

‘Influence Explored’ takes an article from the day’s headlines and exposes the influential ways of entities mentioned in the article. Names and corporations are run through Sunlight’s influence tracking tools such as Influence Explorer and Transparency Data to remind readers of the money that powers Washington.