March 28, 2013
Bransten Trio: Part Tres
The last of the Bransten Trio of cases (previously, I wrote of Part Un and Part Deux) dealing with Allstate’s complaint against Morgan Stanley has some of the allegedly misrepresentative language at issues in such cases. A sampling includes “These … Continue reading
March 28, 2013 in Upstream litigation | Permalink | No Comments
March 27, 2013
Martin-et Act?
I am on the record in favor of greater prosecutorial attention to the events that led to the financial crisis, but I also believe that any prosecutions that result from such investigations should arise from laws that clearly outline potential … Continue reading
March 27, 2013 in Upstream litigation | Permalink | No Comments
March 26, 2013
Bransten Trio: Part Deux
As I work through the Bransten Trio of cases on misrepresentation in the securitization process, I am struck by the arguments of the defendants, arguments that do not seem to carry much weight with judges who hear them. In the … Continue reading
March 26, 2013 in Upstream litigation | Permalink | No Comments
March 21, 2013
Borden and Reiss on Dearth of Prosecutions for Mortgage Misrepresentations
We published Cleaning Up the Financial Crisis of 2008: Prosecutorial Discretion or Prosecutorial Abdication? (paywall) today in the BNA Criminal Law Reporter. (You can also get a copy on SSRN or BEPress). It builds on things we have said here and … Continue reading
March 21, 2013 in Upstream litigation | Permalink | No Comments
March 20, 2013
A Bransten Trio Join Judicial Chorus on Misrepresentation
Justice Bransten, a judge in the Commercial Division of the N.Y. S. Supreme (trial) Court, issued three similar decisions last week denying motions to dismiss lawsuits by Allstate over its purchase of hundreds of millions of dollars of MBS. The … Continue reading
March 20, 2013 in Upstream litigation | Permalink | No Comments
March 14, 2013
FIRREA Factors for Determining Civil Penalties
Andrew Schilling, Ross Morrison and Michelle Rogers wrote a short article (here, behind a paywall) about a recent case, U.S. v Menendez, No. C.V. 11-06313 (C.D. Cal. Mar. 6., 2013) that sets forth the eight factors that are to govern … Continue reading
March 14, 2013 in Upstream litigation | Permalink | No Comments
March 13, 2013
MERS-Y! MERS-Y!
Dustin Zacks has posted Revenge of the Clerks: MERS Confronts County Clerk and Qui Tam Lawsuits, a short article that reviews litigation brought by “county clerks and private qui tam actions assert that MERS has cheated county recorders out of … Continue reading
March 13, 2013 in Upstream litigation | Permalink | No Comments
