We’ve lost count of how many times the banks sued by the Federal Housing Finance Agency for selling shoddy mortgage-backed securities have had their defenses slapped down by U.S. District Judge Denise Cote. But even as more and more settlements piled up this summer, the remaining defendants seized on an obscure U.S. Supreme Court decision to revive their long-standing, twice-defeated argument that the FHFA’s multibillion-dollar claims are time-barred.
The argument didn’t fare any better this time around.
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