Wave Of Lawsuits Over Mortgage Crisis May Struggle To Win Damages

New York Times:

Finding someone to sue over losses in the mortgage market and the credit crisis is easy. Winning in court, lawyers say, will be hard.

Shareholders in big financial firms have accused UBS, Merrill Lynch, MBIA and Morgan Stanley, among others, of trying to hide their home loan problems, which later led to declines in their stock prices.

Read the whole story: New York Times

Comments

[loki]

But still no action from the gov on going after corrupt loan officers and brokerages , and even some lenders, who used deceptive practices on borrowers. Forged signatures, non disclosure of fees and charges, and outright fraud. But not one story or news report on anyone being investigated or charged.
They are giving the illegal LO, Brokers, and Lenders a free ride here while the people and the market suffers.