Category Archives: securities

Home Loan Bank Lawsuit May Signal Floodgates Opening For Investor Actions

Posted on February 18, 2010 by Isaac Gradman

As reported this week in the Wall Street Journal (article available here, with subscription), the Federal Home Loan Bank of Seattle has filed separate lawsuits against 11 different Wall Street firms, alleging that it was misled about the quality of … Continue reading →

Posted in Bear Stearns, Federal Home Loan Banks, investors, irresponsible lending, lawsuits, litigation, mark-to-market accounting, RMBS, securities, securitization, servicers, underwriting practices, Wall St. | 2 Comments

Bondholders Considering Plan to Tell Servicers: "You’re Fired!"

Posted on January 6, 2010 by Isaac Gradman

With lawsuits against servicers grinding a slow path through the court system, investors are looking to make an end-run around the intransigent banks who are refusing to service mortgages in accordance with bondholder wishes. Their solution to break through the … Continue reading →

Posted in banks, CalPERS, fiduciary duties, Investor Syndicate, investors, loan modifications, pooling agreements, securities, securitization, servicers, short-selling, toxic assets, Treasury, Trustees | 2 Comments

Subprime Shakeout Discussed in Volokh Conspiracy Post On Formation of Aggregator Bank

Posted on January 26, 2009 by Isaac Gradman

On January 19, 2009, Eric Posner from the Volokh Conspiracy cited to the Subprime Shakeout in his article entitled “Why should the government buy toxic assets?” The post addressed the idea of an “Aggregator Bank” that would acquire the mortgage-backed … Continue reading →

Posted in Aggregator Bank, Attorneys General, Countrywide, Government bailout, Greenwich Financial Services, investors, loan modifications, predatory lending, securities, settlements, TARP, Volokh Conspiracy | Leave a comment

Newest Navigant Study Released: Shows Unprecedented Volume of Credit Crisis Litigation

Posted on December 19, 2008 by Isaac Gradman

Navigant Consulting, Inc. (NCI), a global consulting firm that releases quarterly reports on subprime mortgage and related case filings in the federal courts, released their newest study today, and the results are staggering (see MSN Money article here). The report, … Continue reading →

Posted in broader credit crisis, causes of the crisis, class actions, investors, lawsuits, litigation, misrespresentation, Navigant Consulting, Savings and Loan crisis, securities, subprime | Leave a comment

Focus of New Regulation Should Be On Securitization

Posted on November 11, 2008 by Isaac Gradman

The election of Barack Obama as the presumptive 44th President of the United States promises to usher in an era of increased regulation of the financial markets pursuant to Obama’s platform of economic reform. So far, many commentaries on the … Continue reading →

Posted in accounting, Alt-A, banks, Barack Obama, broader credit crisis, causes of the crisis, lenders, mortgage market, regulation, securities, securitization, subprime | Leave a comment