Utah Homeowner Wins Lawsuit Against Bank of America in Illegal Foreclosure Action – (St. George UT) – Utah Fifth District Judge Jeffrey Wilcox listened to Sam Adamson tell his story on the witness stand about the illegal foreclosure conducted on h…Utah Homeowner Wins Lawsuit Against Bank of America in Illegal Foreclosure Action (St. George, UT) – Utah Fifth District Judge Jeffrey Wilcox listened to Sam Adamson tell his story on the witness stand about the illegal foreclosure conducted on his home by ReconTrust Company over four years ago.

AIG shareholders sue government claiming their $182 bn bailout wasn’t favorable enoughReuters/Brendan McDermid ​Maurice Greenberg, former head of the American International Group (AIG), recruited prominent Wall Street players to contribute several million dollars to a lawsuit that alleges the US government bailout of AIG in 2008 was unfair to company shareholders. Greenberg, who still owns a large stake in AIG, filed the suit on behalf of his fellow shareholders.

13 Major Global Banks Sued by Virginia for $1.15BIssues pertaining to the pre-crisis business conducts continue to trouble major global banks. Units of Citigroup Inc. (C), Deutsche Bank AG (DB), Bank of America Corporation (BAC), The Goldman Sachs Group Inc. (GS), Credit Suisse AG (CS), HSBC Holdings plc (HSBC), Morgan Stanley (MS) and JPMorgan Chase & Co.

UPDATE 2-U.S. court rules against banks in swap rules lawsuitBy Douwe Miedema WASHINGTON, Sept 16 (Reuters) – A U.S. court on Tuesday largely rejected an attempt by banking groups to limit the U.S. swaps regulator’s ability to apply its rules overseas, a hotly debated issue as the agency reins in the $710 trillion global market.

UPDATE 1-Virginia sues 13 banks for $1 bln over alleged mortgage bond fraudBy Gary Robertson and Aruna Viswanatha RICHMOND, Va./WASHINGTON, Sept 16 (Reuters) – The state of Virginia said on Tuesday that it sued units of Citigroup Inc , Deutsche Bank AG and 11 other banks, accusing them of defrauding the state’s retirement fund by selling it shoddy mortgage bonds in the run-up to the recent financial crisis.

UPDATE 3-Big banks must face U.S. swaps price-fixing lawsuitBy Jonathan Stempel NEW YORK, Sept 4 (Reuters) – A Manhattan federal judge said on Thursday that investors may pursue a lawsuit accusing 12 major banks of violating antitrust law by fixing prices and restraining competition in the roughly $21 trillion market for credit default swaps. While dismissing part of the case, U.S.

The Biggest Lie of the New CenturyYesterday, we looked at why bankers weren’t busted for crimes committed during the financial crisis. Political corruption, prosecutorial malfeasance, rewritten legislation and cowardice on the part of government officials were among the many reasons. But I saved the biggest reason so many financial felons escaped justice for today: They dumped the cost of their criminal activities on you, the shareholder (never mind the taxpayer).