Bove Says Mortgage Lawsuits Could Crash Banking System

"Richard Bove, an analyst at Rochdale Securities, talks about the possibility of the Federal Housing Finance Agency filing a lawsuit against more than a dozen large banks for misrepresenting the quality of mortgage securities sold at the height of the housing bubble and the impact punitive payments may have on the industry and economy. Bove, speaking with Adam Johnson, Jon Erlichman and Dominic Chu on Bloomberg Teleivision's "InBusiness with Margaret Brennan," also discusses the outlook for Bank of America Corp."