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Non-Tech : Banks--- Betting on the recovery -- Ignore unavailable to you. Want to Upgrade?

To: Sr K who wrote (1143)	9/23/2010 9:51:41 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 1428

a group of investors in 2,300 mortgage securities worth roughly $500 billion is seeking to force several banks that originated or are now servicing faulty subprime-mortgage loans to repurchase or modify them. I'm surprised this is taking so long in the courts since the violations of "representations and warranties" were so obvious. This is especially true for the Monolines that were "tricked" into insuring them as CDS counterparties due to fraudulent Ratings. Hawk