Suing USA Toxic Mortgage Banks
Published / Last Updated on 01/09/2011
Suing USA Toxic Mortgage Banks.
The United State authorities, specifically the Federal Housing Finance Agency, is looking at taking legal action against US banks that lent on toxic mortgages and created the over inflated housing boom.
This ultimately lead to the credit crunch with certain high profile lenders such as Fannie Mae and Freddie Mac going into administration and others needing huge government capital support to stay afloat.
The NY Times suggests that Bank of America, Goldman Sachs and JP Morgan Chase are amongst a number of high profile firms that may face legal action to recover state losses.