The US regulator is filing legal suits against several big banks for the subprime mortgages that were sold to Fannie Mae and Freddie Mac. More details here:
http://slatest.slate.com/posts/2011/09/02/mortage_lawsuits_big_banks_to_be_sued_by_federal_regulator_over_.html
I expect that the legal fallout can be quite serious for the global economy.
http://slatest.slate.com/posts/2011/09/02/mortage_lawsuits_big_banks_to_be_sued_by_federal_regulator_over_.html
I expect that the legal fallout can be quite serious for the global economy.
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