July 18, 2013
DoJ All FIRREA-ed Up With S&P Suit
Law360 quoted me in a story, Prosecutors Unleashed As $5B S&P Action Rolls On (behind a paywall), about DoJ’s success in fending off S&P’s motion to dismiss its FIRREA case. It reads in part While the latest ruling against S&P … Continue reading
July 18, 2013 in Government lawsuits | Permalink | No Comments
July 17, 2013
What Was S&P Puffing?
I have been closely following DoJ’s suit against S&P since the complaint was filed in February (and see here, here and here). DoJ alleges that S&P “issued or confirmed ratings that did not accurately reflect true credit risks” and seeks … Continue reading
July 17, 2013 in Government lawsuits | Permalink | No Comments
June 27, 2013
Casting Light on the Shadow Docket
New York Attorney General Schneiderman’s lawsuit against various HSBC entities, New York v. HSBC Bank USA et al., No. 2013-1660 (May 31, 2013), alleges that HSBC entities have sent hundreds or thousands of NY households into legal limbo because they … Continue reading
June 27, 2013 in Government lawsuits | Permalink | No Comments
June 25, 2013
National Mortgage Settlement: Not Too Compliant
The Summary of Compliance: A Report from the Monitor of the National Mortgage Settlement documents just how hard it is for the big five mortgage servicers (ResCap parties (formerly Ally/GMAC), Bank of America, Citi, JPMorgan Chase and Wells Fargo) to … Continue reading
June 25, 2013 in Government lawsuits | Permalink | No Comments
May 30, 2013
Standard & Poor Puffery
The Department of Justice filed its opposition to S&P’s Motion to Dismiss the federal government’s FIRREA lawsuit. At this stage of the litigation, it appears as if the key issue is whether S&P’s alleged misrepresentations about its business practices are … Continue reading
May 30, 2013 in Government lawsuits | Permalink | No Comments
May 24, 2013
Reiss on the Ethics of Subprime Lending
Fordham Law School is sponsoring an event on The Mortgage Crisis – Five Years Later on June 3rd. I will be speaking about the ethics of subprime lending on the second panel. The speakers are Panel 1: The Mortgage … Continue reading
May 24, 2013 in Government lawsuits | Permalink | No Comments
May 9, 2013
FIRREA Flies
Law360 interviewed me about the federal government’s continuing reliance on FIRREA in Prosecutors Get Last Laugh In $1B BofA Fraud Case (behind a paywall): A controversial legal theory at the heart of a $1 billion mortgage fraud suit against Bank … Continue reading
May 9, 2013 in Government lawsuits | Permalink | No Comments
