Friday, Aug 10, 2007
The blame game has started
Times: Credit crisis could lead to surge in litigation
A meltdown in the credit markets could lead to banks, hedge funds and private equity firms finding themselves embroiled in years of costly litigation, lawyers warned today. In the past few weeks, law firms have received an increasing number of inquiries from clients wanting to know if they can be held to their commitments if the credit markets collapse. At the same time, private equity and corporate clients want to know if the banks can be forced to make good on their lending promises.
Posted by uncle chris @ 09:40 PM (167 views) Add Comment
4 Comments
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1. lvmreader said...
Really? You think? These financial journalists never miss a trick do they?
How about whether banks can cover the options they have sold?
2. paul said...
Ugly ugly nasty nasty. Opaque instruments and this is what you reap. I sincerely hope some of those duped investors win. It will teach the banks a good lesson.
3. Bearsrus said...
hmm lawers win on the boom times , seems they ,ll not be starving in the bust
4. Whiteknight said...
I am about to purchase a large amount of wheel barrows if anybody is in for a joint venture?
A wheel barrow will be the new wallet.
more than 100 billion EUR of "liquidity" .. who employs these clowns. Is this the new word for printing money now?