about 17 companies being sued for fraud. One possible outcome, scotus overturns damage award, or reduces it to inconsequential. Or, the award upheld, forcing the defendant into liquidation under the provisions of Dodd/Frank. [Fed oversight]
In the most recent action, the complaints were filed against the following institutions: Ally Financial; Bank of America (BAC, Fortune 500); Barclays Bank (BCS); Citigroup (C, Fortune 500); Countrywide Financial; Credit Suisse Holdings (CS); Deutsche Bank (DB); First Horizon National (FHN); General Electric (GE, Fortune 500); Goldman Sachs (GS, Fortune 500); HSBC North America; JPMorgan Chase (JPM, Fortune 500); Merrill Lynch/First Franklin Financial; Morgan Stanley (MS, Fortune 500); Nomura Holding America; Royal Bank of Scotland (RBS); Societe Generale.
First Published: September 2, 2011: 5:20 PM ET