Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
FT.com / US & Canada - Regulator's move risks opening lawsuit floodgates
The Securities and Exchange Commission's charges of fraud against Goldman Sachs could prompt a fresh wave of lawsuits by banks, insurance companies and investors that lost hundreds of billions of dollars on risky debts backed by subprime mortgages.

Numerous cases have already been filed related to losses on collateralised debt obligations - the debt instruments at the centre of the SEC's case against Goldman Sachs - as well as other investments related to risky US subprime mortgages.

The detailed allegations outlined by the SEC are likely to spur more lawsuits, and could also give existing cases a boost.
...
However, shares in some sectors rose, such as those insurance companies that have come close to collapse because they insured losses on such CDOs.

Bond insurers Ambac and MBIA and insurer AIG were the biggest providers of such insurance, offered in the form of credit default swaps - derivatives that pay out on default - on the CDOs. AIG's exposure to such losses required the US government to bail out the insurer and both Ambac and MBIA have filed ­lawsuits relating to losses on mortgage-backed securities.



"Ce qui vient au monde pour ne rien troubler ne mérite ni égards ni patience." René Char
by Melanchthon on Mon Apr 19th, 2010 at 03:07:25 AM EST
[ Parent ]
"My administration," the president added, "is the only thing between you and the pitchforks."

Read more...

"My administration," the president added, "is the only thing between you and the pitchforks."

Read more...

"My administration," the president added, "is the only thing between you and the pitchforks."

Read more...

"My administration," the president added, "is the only thing between you and the pitchforks."

Read more...

"My administration," the president added, "is the only thing between you and the pitchforks."

Read more...



Diversity is the key to economic and political evolution.
by Cat on Mon Apr 19th, 2010 at 12:36:25 PM EST
[ Parent ]
He evidently failed. Time to sharpen pitchforks nad light torches. Where's Twank ?

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Mon Apr 19th, 2010 at 01:15:44 PM EST
[ Parent ]
Has he failed? oh I don't know. It's only April, time still to declare taxpayer "profits" from penalties forthcoming of civil litigation and Restoration of toothsome taxpayer protections by passage of the finance reform bill. Those outcomes portend, to some, an midterm Democratic Party win-win by November.

Diversity is the key to economic and political evolution.
by Cat on Mon Apr 19th, 2010 at 01:43:47 PM EST
[ Parent ]

Display:

Top Diaries

Après May

by Frank Schnittger - Mar 22
25 comments

The gloves are off

by Frank Schnittger - Mar 20
32 comments

Brexit Fun: The John Bercow Show

by Oui - Mar 18
19 comments

Healing Earth (Through the Waters)

by gmoke - Mar 19
2 comments

People playing games

by Frank Schnittger - Mar 15
50 comments

No justice for Bloody Sunday

by IdiotSavant - Mar 14
2 comments

Occasional Series