Sep 3, 2011

The U.S. authorities will sue who created "housing bubble" banks

The U.S. administration intends to sue a number of banks, which prevented the formation of the credit bubble in the mortgage market, which led to the collapse and the crisis of 2008. "The New York Times" wrote that lawsuits have been prepared by the Federal Agency for the U.S. housing finance in the coming days will be submitted to the court. Claims are directed against the "Bank of America", "JP Morgan Chase", "Goldman Sachs", "Deutsche Bank" and many other banks.

The country's authorities intend to require banks to compensation payments to institutional investors who have suffered catastrophic losses as a result of the collapse of U.S. mortgage system.

Regulators say the United States in lawsuits that banks that serviced mortgages represented to investors as a safe investment. However, they carelessly spent all the legal checks and missed (it is possible that deliberately) is evidence that borrowers were not creditworthy. When borrowers were unable to pay the mortgage, secured their bonds rapidly depreciated, and the crisis began.

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