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Local Bar Leaders Voice Support for Obama's Plan to Prosecute Terror Suspect in NY Court
For its newly-filed complaint against Morgan Stanley, Allstate turned to Bernstein Litowitz rather than Quinn, which filed the last six suits against banks that sold Allstate toxic mortgage-backed securities. Turns out there's a good reason for that.
It was a big turnaround for mortgage-backed securities investors last year when an appellate court ruled that plaintiffs can assert claims related to securities they never purchased. On Monday Goldman Sachs's lawyers at Gibson Dunn and Boies Schiller lost a bid to turn things back around in the banks' direction.
They say you can't beat the house. In litigation sparked by the collapse of the giant Fontainebleau casino project on the Las Vegas strip, neither the project's borrowers or a group of term lenders have been able to beat the banks.
How old U.S. Steel leapt off history's scrap pile
U.S. Steel Corp., at age 107, is another example of why watching markets is such fun. A dog for decades, the Pittsburgh-based company has been on an extraordinary run. Shares of old X, the company's New York Stock Exchange symbol, closed yesterday at $151.35-10 times what it sold for five years ago. If you had bought shares three years ago, you would have more than tripled your money.UBS AG will pay the Federal Housing Finance Agency a hefty $885 million for allegedly conning Fannie Mae and Freddie Mac into buying more than $5 billion in dubious residential mortgage-backed securities.
SBA Communications buying towers in $1.45 billion deal
Boca Raton-based communications tower operator SBA Communications Corp. is buying 3,252 towers in a cash-and-stock deal valued at about $1.45 billion.Trending Stories
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