Bank of America Spurns AIG Request For Renegotiation

Bank of America Corp (NYSE:BAC) has rebuffed a request from American International Group Inc (NYSE:AIG) to renegotiate a $85 billion mortgage bond settlement deal. The bank’s attorney Elaine Golin said Bank of America Corp (NYSE:BAC) won’t participate in mediation proposed by American International Group Inc (NYSE:AIG) and other opponents and will not otherwise engage in any renegotiation. Bank of America Acquired Countrywide The lender paid $2.5 billion to acquire Countrywide Financial Corp in 2008. The acquisition, however, became an albatross and has cost Bank of America Corp (NYSE:BAC) tens of billions of dollars for litigation, mortgage related costs and loan buybacks. Leading…