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Re: U.S. Is Set to Sue Big Banks Over Mortgages 

By: Decomposed in FFFT | Recommend this post (5)
Fri, 02 Sep 11 4:09 PM | 80 view(s)
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Msg. 32567 of 65535
(This msg. is a reply to 32564 by clo)

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clo,

re: "U.S. Is Set to Sue Big Banks Over Mortgages"

Wow. After it sues them, does it bail them out???




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The above is a reply to the following message:
U.S. Is Set to Sue Big Banks Over Mortgages
By: clo
in FFFT
Fri, 02 Sep 11 2:11 PM
Msg. 32564 of 65535

An overview of OCU's post. clo

U.S. Is Set to Sue Big Banks Over Mortgages

The federal agency that oversees the mortgage giants Fannie Mae and Freddie Mac
is set to file suits against more than a dozen big banks, accusing them of
misrepresenting the quality of mortgage securities they assembled and sold at
the height of the housing bubble, and seeking billions of dollars in
compensation.

The Federal Housing Finance Agency suits, which are expected to be filed in the
coming days in federal court, are aimed at Bank of America, JPMorgan Chase and
Deutsche Bank, among others, according to three individuals briefed on the
matter.


Read More:
http://www.nytimes.com/2011/09/02/business/us-is-set-to-sue-dozen-big-banks-over-mortgages.html?emc=na


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