Friday, Jul 13, 2007
More fallout
ReportonBusiness.com: Subprime fallout: Let the litany of lawsuits begin
WASHINGTON -- Lawsuits blossomed after Enron Corp.'s collapse, many targeting the energy giant's bankers. Now, Wall Street firms could again become a bull's-eye for investors seeking recourse from the subprime mortgage debacle.
Homeowners are suing lenders. Shareholders are suing collapsed mortgage companies. Investors in complex mortgage securities are starting to sue big Wall Street banks. Those investment banks are turning around and suing the mortgage companies.
Posted by mac @ 02:10 PM (157 views) Add Comment
2 Comments
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1. lvmreader said...
This will only be a surprise to people whose IQ permits them to only dribble warm saliva into a bucket.
The rest of us, with standard "smarts" could see this coming over one year ago.
2. Orwell said...
Glad I am a lawyer!