Re "California's share of Bank of America pact" (Business, Aug 22): As usual, The Bee reports big numbers without any context. I refer to the settlement with Bank of America where we are told that California homeowners and pension funds will get $800 million dollars.
The implication is that California is getting a win. As a regular reader of The Bee, I can tell you that whenever a story implies something, it is because the opposite is true. However, there is no way to state factually that the the settlement isn't a win because the story conveniently fails to say how much California homeowners and pension funds lost because of Bank of America's fraud.
Did California recover 90 percent of its loses or pennies on the dollar? A real news story would have made this clear.
-- Gary Fitzgerald, Carmichael