Economy

Demeter

(85,373 posts)

12. U.S. judge expands classes in lawsuits over $34 billion mortgage debt

Fri Dec 27, 2013, 08:42 PM

Dec 2013

http://news.yahoo.com/u-judge-expands-classes-lawsuits-over-34-billion-224200408--sector.html

A Manhattan federal judge on Friday expanded the scope of class-action litigation accusing banks of concealing the risks of more than $34 billion of mortgage-backed securities prior to the financial crisis.

U.S. District Judge Harold Baer said investors may now pursue claims as a group against Citigroup Inc , Goldman Sachs Group Inc and UBS AG over an estimated $11.9 billion of securities.

Those offerings were linked to the RALI Mortgage Asset-Backed Pass-Through Certificates, which were issued in 2006 and 2007 by the former Residential Capital LLC. One offering was the subject of a partial $100 million settlement this year.

Baer also said investors may pursue a similar case against Royal Bank of Scotland Group Plc over an estimated $22.5 billion of securities in 12 offerings linked to the Harborview Mortgage Loan Trusts, which were also created in 2006 and 2007.

The judge also named the Iowa Public Employees Retirement Systems and Illinois' Midwest Operating Engineers Pension Trust Fund as class representatives in the Harborview case...

MORE

Edit history

Please sign in to view edit histories.

85 replies

= new reply since forum marked as read

Highlight:

Weekend Economists Stamp Out Ignorance December 27-29, 2013 [View all] Demeter Dec 2013 OP

A little music, maestro, if you please! Demeter Dec 2013 #1

This historic building is being repurposed and remodeled! Demeter Dec 2013 #2

Your postal service at work Demeter Dec 2013 #3

Now, how about those sluggards at FDIC? Demeter Dec 2013 #4

Homeless Couple Gets A Home On Christmas Eve, Thanks To Innovative ‘Occupy’ Group Demeter Dec 2013 #5

Detroit To Seek Judge’s Approval For Improved Deal With Big Banks Demeter Dec 2013 #6

The Fear Economy By PAUL KRUGMAN Demeter Dec 2013 #7

Vermont Approves Single-Payer Health Care: "Everybody In, Nobody Out" Demeter Dec 2013 #8

The Postal Clause Demeter Dec 2013 #9

What America Would Look Like if Libertarians Got Their Way Demeter Dec 2013 #10

THE PRIVATE SECTOR HAS A BAD MONTH: The Invisible Hand Is All Thumbs By Charles P. Pierce Demeter Dec 2013 #14

Inside UPS’s pre-Christmas parcel profusion Demeter Dec 2013 #18

Obama, Democrats push for extension of unemployment benefits Demeter Dec 2013 #11

U.S. judge expands classes in lawsuits over $34 billion mortgage debt Demeter Dec 2013 #12

More Music, If You Please! Demeter Dec 2013 #13

How to defeat Big Brother Demeter Dec 2013 #15

THE FEDERAL RESERVE IS 100 YEARS OLD LAST WEDNESDAY Demeter Dec 2013 #16

Record-level metals storage in ‘shadow warehouses’ Demeter Dec 2013 #17

Obama signs bipartisan budget deal, annual defense bill Demeter Dec 2013 #19

Encore! Demeter Dec 2013 #20

The Postman Demeter Dec 2013 #21

I like the Post Office! DemReadingDU Dec 2013 #22

The Postman Always Rings Twice DemReadingDU Dec 2013 #23

I've exhausted my knowledge of musical notes (hahaha) Demeter Dec 2013 #24

Oh. Well it has to be this one: Ghost Dog Dec 2013 #25

Regulators Are Already Considering The First 'Finessing' Of The Volcker Rule xchrom Dec 2013 #26

Japan Wages Pressured by Fastest Inflation Since 2008 xchrom Dec 2013 #27

European regulators seek prop trading ban for large banks: paper xchrom Dec 2013 #28

Taking power in New Delhi, 'common man' leader talks of revolution xchrom Dec 2013 #29

That's the kind of party we need here. Demeter Dec 2013 #30

BUNDESBANK CHIEF PRESSES EUROPE TO PURSUE REFORMS xchrom Dec 2013 #31

Tatiana's Letter Aria--Yevgeny Onegin--Piotr Illich Tchaikovsky Demeter Dec 2013 #32

EU VOICES CONCERN OVER TURKISH GRAFT SCANDAL xchrom Dec 2013 #33

History of the USPS Demeter Dec 2013 #34

'Werther' Letter Scene / Massenet * JANET BAKER * LIVE! in English Demeter Dec 2013 #35

Then, of course, there's the competition Demeter Dec 2013 #36

letter to me - brad paisley Demeter Dec 2013 #37

Current operations USPS Demeter Dec 2013 #38

We still have Saturday delivery DemReadingDU Dec 2013 #40

WIKIPEDIA NEEDS AN UPDATE...Yes, still Saturday Demeter Dec 2013 #42

A Letter to Socialists, By Gustave de Molinari (Economics, Politics, and a Letter!) Demeter Dec 2013 #39

Is NSA Screwing the Pooch? - TTG from Sic Semper Tyrannis (A Committee of Correspondence) Demeter Dec 2013 #41

Bitcoin Pirates Steal Your Computer Resources! Demeter Dec 2013 #43

Ian Fraser: The “Financial Terrorism” of Royal Bank of Scotland Demeter Dec 2013 #44

Wasn't RBS a major beneficiary of the AIG bailout? snot Dec 2013 #83

everybody's been bailing them out Demeter Dec 2013 #85

Alas! I have to go do something totally useless for pay Demeter Dec 2013 #45

I refer you to this discussion--it's a resource! Demeter Dec 2013 #46

Spanish firms obtaining more loans from overseas investors xchrom Dec 2013 #47

Makes one wonder Demeter Dec 2013 #48

poor spain. they have suffered at the hands of the banksters. nt xchrom Dec 2013 #49

Didja know? Post Office Murals jtuck004 Dec 2013 #50

So, it's 46F and sunny Demeter Dec 2013 #51

Some person in Post Office stole my shipment golfguru Dec 2013 #52

Why No Wall Street CEOs Were Prosecuted For Causing The Financial Crisis Demeter Dec 2013 #53

How the Postal Service is being gutted. hay rick Dec 2013 #54

Thanks for sharing DemReadingDU Dec 2013 #55

Internet is killing the post office golfguru Dec 2013 #56

There are still grandmas sending real cards to grandkids DemReadingDU Dec 2013 #65

USPS needs to be modernized Demeter Dec 2013 #68

I ordered several packages online in the couple of weeks before x-mas. Fuddnik Dec 2013 #57

I had a few packages delivered by Posts Office DemReadingDU Dec 2013 #67

FEDERAL HEALTH MARKET SURPASSES 1 MILLION SIGNUPS xchrom Dec 2013 #58

AP IMPACT: THE WORLD BRACES FOR RETIREMENT CRISIS xchrom Dec 2013 #59

HOW RETIREMENT SYSTEMS VARY, COUNTRY TO COUNTRY xchrom Dec 2013 #60

Japan's top business lobby agrees to raise base pay next year - media xchrom Dec 2013 #61

sunday kind of love xchrom Dec 2013 #62

Etta James - I'd Rather Be Blind (Live at Montreux 1975) xchrom Dec 2013 #63

Etta James -- Sugar on the Floor xchrom Dec 2013 #64

Which will be the big economies in 15 years? It's not a done deal xchrom Dec 2013 #66

Good article. More: snot Dec 2013 #84

Young People More Likely To Favor Socialism Than Capitalism: Pew antigop Dec 2013 #69

Musical interlude: Package delivery in the old days antigop Dec 2013 #70

How could I have forgotten that! Demeter Dec 2013 #71

From the Music Man DemReadingDU Dec 2013 #72

How the Postal Service Is Being Gutted Demeter Dec 2013 #73

Congress Has a Constitutional Duty to Preserve and Promote the Post Office John Nichols Demeter Dec 2013 #74

musical interlude: "Letter Song" from "Secret Garden" antigop Dec 2013 #75

Musical interlude: "The Letter" from "Billy Elliott" antigop Dec 2013 #76

"Dear Mom#1" from "Smile" antigop Dec 2013 #77

Elvis Presley: "Return to Sender" antigop Dec 2013 #78

Alan Sherman: "Hello Muddah, Hello Faddah" antigop Dec 2013 #79

"Unexpected Song" from "Song and Dance" antigop Dec 2013 #80

Barbara Streisand: "Letters That Cross in the Mail" antigop Dec 2013 #81

I know those, too! I have recordings of them Demeter Dec 2013 #82