Blog Archive: December 2014
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NY Success Against Another Architect of the Financial Collapse; Other States Should Follow NY’s Lead
New York Attorney General Eric Schneiderman has prevailed against the second largest bank of Switzerland Credit Suisse’s motion to dismiss the Attorney General’s $10 billion lawsuit against the bank for fraud concerning the sales of mortgage-backed securities prior to the 2008 financial crisis. This suit was filed back in 2012 as a result of allegations that the bank misrepresented to investors the downside risks of mortgage-backed securities which the bank was hawking prior to the finan...
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