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Royal Bank Of Scotland Must Face Lawsuit Over Mortgage Debt - Judge

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http://uk.reuters.com/article/2014/03/19/uk-rbs-assuredguaranty-lawsuit-idUKBREA2I1VM20140319

Royal Bank of Scotland Group Plc (RBS.L) must face a U.S. lawsuit seeking to force it to cover losses suffered by a bond insurer on a $1.15 billion (695.66 million pounds) securities offering backed by allegedly defective and fraudulent home loans.

U.S. District Judge John Koeltl in Manhattan said RBS must defend itself against claims by Assured Guaranty Ltd (AGO.N) that the taxpayer-owned bank committed fraud, and aided and abetted fraud, by inducing it to insure part of a 2007 securitization, and expose it to more than $100 million of potential losses.

The allegations "raise a strong inference that RBS had a specific motive and intent to deceive the plaintiff in order to obtain the policy for a specific transaction," Koeltl said.

I do hope the Scottish taxpayer has deep pockets.

This turd should have been killed off.

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The bank that keeps on giving.

I hope it gives us a collapse of the Square Mile, but the new RBS boss Ross McEwan is putting up the barriers again - "Fraud? Us? Neeever ..." And he smiles like Gordon Brown. Cun't.

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http://uk.reuters.com/article/2014/03/19/uk-rbs-assuredguaranty-lawsuit-idUKBREA2I1VM20140319

I do hope the Scottish taxpayer has deep pockets.

This turd should have been killed off.

Dates seem a bit absent - would Goodwin have still been in charge when this took place? If so, might he be liable to any charges? Please, please, please, please, please, please, please, please, please say 'yes'.

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