More MBS lawsuits: Morgan Stanley (MS) is taken to court by Germany's DZ Bank over about $694M...

More MBS lawsuits: Morgan Stanley (MS) is taken to court by Germany's DZ Bank over about $694M in questionable securities. Bank of America (BAC) is sued by CIFG Assurance, which claims it was duped into providing about $150M of insurance to make more marketable toxic MBS the bank otherwise couldn't find a buyer for.

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Comments (3)
  • Renoira
    , contributor
    Comments (94) | Send Message
    ...and the hits just keep on coming! So what do we believe...on the one hand there is a lot of press about how much better B of A is doing, on the other hand, the lawsuits are mounting. I am still waiting to see what happens when they all converge.


    Meanwhile, I hear alternative energy is a good investment.
    21 Nov 2012, 02:07 PM Reply Like
  • jypd
    , contributor
    Comments (5) | Send Message
    The carrion eaters are at it always. So many supposedly cagy and intelligent investors are weeping: ".gee whiz, we poor saps were duped by those crooked bankers who are smarter than us..". Of course, all of the puky packages were approved by god-almighty, otherwise named S&P or Moody or Fitch, designated by the omniscient Washington crowd as the only gate -keepers to triple-A ratings.
    Perps like Barney and Angelo get to work on their tans, the banks get to take the falls and our government wanders blindly through the swamp.
    21 Nov 2012, 02:29 PM Reply Like
  • what do I know
    , contributor
    Comments (1044) | Send Message
    There was sometime ago an analysis at Bank of America to see if B Of A can spin - off Country Wide and they concluded it will be bad for public relation. Now, with every tom dick harry ganging up against B of A may be time again for B of A to do that cost-benefit analysis if it would be beneficial to keep Country Wide within B of A umbrella.
    21 Nov 2012, 05:21 PM Reply Like
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