General business has kept me from reading the deposition Matt Taibbi writes about here, but it sounds amazing. Anyone who’s seen the movie Inside Job will recall the stupendously angering scene in which (Mitt Romney advisor Glenn) Hubbard pissily snaps at his interviewer for asking about his outside relationships with financial services industry [...] “This [...]

Barry Ritholtz links to a complaint from MBIA, the insurance company, against Morgan Stanley over second lien securitization. MBIA is suing over breach of contract on a securitization known as MSM 2007-9SL, a pool of 5,000 second-lien loans. “Based on demonstrably false written representations during the pre-deal negotiations, Morgan Stanley fraudulently induced MBIA to issue [...]