FDIC Sues Banks and Depositors Over MBS Fraud | MFI-Miami
On August 17th, the FDIC as receiver for Guaranty Bank out of Texas
brought suit against Ally Securities, Bank of America, Bear Stearns
Companies, Countrywide Financial Corp., Countrywide Securities, CWALT,
Deutsche Bank Securities, Goldman Sachs, JPMorgan Securities, Merrill
Lynch, Royal Bank of Scotland, Structured Asset Mortgage Investment II,
Inc, WaMu Asset Acceptance and WaMu Capital Corporation for misleading
Guaranty Bank into buying toxic mortgage backed securities that lead to
it’s collapse in 2009. The three lawsuits make for an interesting read
so grab your coffee.
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