Pimco's Crescenzi on Foreclosure Settlement

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Feb. 9 (Bloomberg) -- Tony Crescenzi, portfolio manager and strategist at Pacific Investment Management Co., talks about today's federal-state settlement with the nation’s five biggest mortgage lenders. Bank of America Corp., JPMorgan Chase & Co. and three other U.S. banks reached a $25 billion settlement with 49 states and the U.S. government to end a probe of abusive foreclosure practices stemming from the collapse of the housing bubble. Crescenzi talks with Tom Keene and Christine Harper on Bloomberg Television's "Surveillance Midday." (Source: Bloomberg)

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