Radian (RDN) Will MI's lead us out of Mortgage Mess? Message Board

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Non-Tech : Radian (RDN) Will MI's lead us out of Mortgage Mess?

RDN 34.10

+0.5%

9:30 AM EST

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To: Hawkmoon who wrote (13)	5/14/2012 11:10:52 PM
From: Hawkmoon	of 14

We can see that RDN was negatively impacted by the JPM scandal (RDN's CDS was part of that tranche that JPM screwed up on).. And now the SEC seems to be coming after JPM over Mortgage Backed Securities: Excerpt: "I first reported the SEC started an investigation into these alleged securities violations (and possible criminal actions) after I saw the securities regulator approach the lawyers and whistleblowers in my Bear Stearns investigative report at The Atlantic the day after the story came out. Now a year later it appears all the ‘shitty deal’ emails, internal Bear Stearns documents, and over thirty whistleblowers who’ve come forward in the monoline suits lead by the New York office of law firm PBWT was enough to get the SEC to stand up to JPM and hopefully say ‘what you did violated securities laws and harmed investors’. Talk about another wave that could lead to tsunami style damage to Jamie Dimon’s ‘fortress balance sheet’. How many billions in damages JP Morgan will have to pay out is not yet determined but inside their Mortgage-Backed Securities and Repurchase Litigation note on the 10-Q the bank tells us “There are currently pending and tolled investor and monoline claims involving approximately $120 billion of such securities.” teribuhl.com

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