Schneiderman Files Suit Against Credit Suisse for Securities Fraud, Days After SEC Settled Same Conduct

By: Tuesday November 20, 2012 11:55 am

Continuing on the theme of prosecutions for fraud during the housing collapse, though in this case civil rather than criminal ones, New York Attorney General Eric Schneiderman just announced a new lawsuit against Credit Suisse for defrauding investors in its mortgage backed securities business. The case mirrors the previous suit filed by Schneiderman against JPMorgan [...]

The Potential Conflict of Interest Issue Inside the Schneiderman/JPMorgan Chase Case

By: Wednesday October 3, 2012 9:05 am

Much thanks to FT Alphaville for highlighting my story about Eric Schneiderman’s lawsuit against JPMorgan Chase over Bear Stearns’ dodgy mortgage-backed securities deals. I wrestled in that other piece about whether there was a legitimate conflict of interest argument with Sanchez. Could JPMorgan Chase try to invalidate the lawsuit by saying that Sanchez’ involvement represented [...]

Timing and Scope: The Issues With the Schneiderman JPMorgan Chase Lawsuit

By: Tuesday October 2, 2012 9:30 am

One thing I want to emphasize about the lawsuit against Bear Stearns on securitization fraud put together by Eric Schneiderman’s office is that it’s rooted in reality. Indeed, Bear Stearns did misrepresent to investors the quality of the loans they placed in mortgage backed security pools, did ignore warnings from third-party due diligence specialists about [...]

Schneiderman Sues JPMorgan Chase; Lawsuit Mirrors Old Cases

By: Monday October 1, 2012 11:47 pm

Late yesterday, New York Attorney General Eric Schneiderman filed a lawsuit made up of years-old evidence against JPMorgan Chase, over deceptive practices related to the sale of $87 billion in Bear Stearns mortgage-backed securities at the height of the housing bubble. The lawsuit is closely modeled after one brought against the same defendants by the [...]

The Ambac Suit: Bear Stearns Execs Double-Dipped, Committed Criminal Fraud on Investors

By: Tuesday January 25, 2011 11:01 am

I mentioned this earlier when writing about the FCIC’s plan to refer individuals for potential criminal prosecution. But the Atlantic’s Teri Buhl has additional details about the Ambac lawsuit against the remnants of Bear Stearns. And it’s quite a doozy. The mortgage traders at Bear, who now are spread out across the financial sector, sold [...]

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