Law, Strategy, and Risk in Commercial Disputes
Blawgletter's favorite Bloomberg columnist, Jonathan Weil, today takes keyboard in hand to tell us why the Securities and Exchange Commission just sued Goldman Sachs for civil fraud – "Goldman Serves One Master Better Than the Others". He teases with this:
Who knew the folks at the SEC still had it in them to accuse
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The subprime residential mortgage business got much of its lending money from big banks. Wall Street in turn acquired the cash by pooling thousands of subprime mortgages into securities and selling the paper to investors.
In 2007, Lone Star bought $61 million of such securities from Barclays Bank and Barclays Capital. The deal documents…