Two foreign banks sue Morgan Stanley over $1.2 billion in RMBS « HousingWire

Two international banks are suing Morgan Stanley (MS: 18.45 +1.77%) for misrepresenting the underlying collateral on $1.2 billion in residential mortgage-backed securities.

Belgium bank Dexia filed one of the suits in New York state court, claiming Morgan Stanley sold the bank $680 million in RMBS while representing the bonds as deserving of AAA status.

Two foreign banks sue Morgan Stanley over $1.2 billion in RMBS « HousingWire