Pot Calls the Kettle Black: US Goes After Financial Firms Over Mortgage Losses
The federal government is suing major Wall Street banks and financial firms over mortgage investments.
By Tami Luhby
The federal agency overseeing Fannie Mae and Freddie Mac filed lawsuits Friday against 17 financial institutions, in an attempt to recover billions of dollars in losses from risky mortgage investments.
The lawsuits were filed against many of the nation’s largest Wall Street and financial firms, including Bank of America (BAC, Fortune 500), Citigroup (C, Fortune 500), Goldman Sachs (GS, Fortune 500) and JPMorgan Chase (JPM, Fortune 500). (See full list at end of story.)
