May 7, 2013
Reiss on FIRREA!
Law360 quoted me in a story, Rakoff Ruling In $1B BofA Case May Halt DOJ Hot Streak, that reflects some judicial skepticism about the federal government’s broad reading of FIRREA: Prosecutors have seized on an obscure 1989 law to launch … Continue reading
May 7, 2013 in Upstream litigation commentary | Permalink | No Comments
March 6, 2013
UCC’s Permanent Editorial Board Reports on Ownership of and Right to Enforce Notes
In Application of the Uniform Commercial Code to Selected Issues Related to Mortgage Notes, the Permanent Editorial Board for the Uniform Commercial Code describes the legal difference between the right to enforce a note (governed by Article 3 of the … Continue reading
March 6, 2013 in Upstream litigation commentary | Permalink | No Comments
February 1, 2013
SEC Complaint on Improper Trading of MBS — Much Ado?
Floyd Norris, the only journalist to whom I have written fan mail (sorry Gretchen, you’re next), has another interesting column about a case that the SEC has brought against an MBS trader, Jesse Litvak. The complaint alleges that On numerous … Continue reading
February 1, 2013 in Upstream litigation commentary | Permalink | No Comments
November 26, 2012
Borden & Reiss: “An Uneasy Justification for Prosecutorial Abdication in the Subprime Industry
In an Uneasy Justification for Prosecutorial Abdication in the Subprime Industry, Professors Brad Borden and David Reiss argue that individuals must be accountable for actions they took that led to the financial crisis. Failure to prosecute individuals will not deter similar behavior in … Continue reading
November 26, 2012 in Upstream litigation commentary | Permalink | No Comments
November 19, 2012
Further Thoughts on Prosecutorial Abdication
I was discussing Prosecutorial Abdication with a friend who used to work in a prosecutorial office. While she agreed with what Brad and I had written, she also highlighted the technical and training challenges that prosecutors face in putting together … Continue reading
November 19, 2012 in Upstream litigation commentary | Permalink | No Comments
