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The SEC reportedly plans to send Wells notices to several major banks over mortgage-related...

The SEC reportedly plans to send Wells notices to several major banks over mortgage-related bonds linked to the financial crisis. It's unclear which banks are being targeted, though sources say the focus of the civil investigation includes BofA (BAC), Citigroup (C), Deutsche Bank (DB) and Goldman Sachs (GS).
Comments (4)
  • Nothing like the shorts digging up news when they are scared. Lets see when this story broke - was it 2 or 3 years ago?
    9 Feb 2012, 07:38 AM Reply Like
  • how many times can these banks be sued over the same mortgage;
    double jepordy?
    9 Feb 2012, 08:29 AM Reply Like
  • Its only double jeopardy if the crime, plaintiff, and defendant are all the same. The 26B settlement is for faulty procedures in the foreclosure process. That is completely separate from selling falsely marketed mortgage backed securities, or originating disclosed mortgages to homeowners. I have no pity for the banks.
    9 Feb 2012, 10:27 AM Reply Like
  • im no lawyer; thanks for the clairity. every month there's a new case against these guys!
    9 Feb 2012, 11:49 AM Reply Like
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