BANKING AND FINANCE

SEC Planning to Sue Banks Over Bonds -- Report

Updated: February 8, 2012 | 9:44 p.m.
February 8, 2012 | 9:21 p.m.

The Securities and Exchange Commission is planning to warn several banks that the agency intends to sue them over mortgage-related actions linked to the financial crisis, The Wall Street Journal reports, citing people familiar with the plans.

At issue is whether the banks misrepresented the quality of bonds, linked to subprime mortgages in 2007 and 2008, that they sold to investors. Which banks will receive formal SEC enforcement warnings isn’t clear.

Want to stay ahead of the curve? Sign up for National Journal’s AM & PM Must Reads. News and analysis to ensure you don’t miss a thing.

Leave a Comment
The National Journal Group has the right (but not the obligation) to monitor the comments and to remove any materials it deems inappropriate.
Comments powered by Disqus
Follow National Journal
  • NationalJournal on Twitter
  • NationalJournal on Facebook
  • NationalJournal on Tumblr
  • NationalJournal's RSS Feeds
  • NationalJournal's Email Newsletters
  • NationalJournal on iPhone and iPad
Columns
Reid Wilson: On the Trail

Buy Early and Often

9:30 p.m.
With so many candidates, super PACs, and party committees chasing limited TV ad time, the rules of the road have changed. An insider’s guide.
Josh Kraushaar: Against the Grain

The Emerging Democratic Divide

May 22, 2012
The brouhaha over a moderate New Jersey mayor’s comments has aggravated tensions that have been growing within the party’s coalition.
Charlie Cook: Charlie Cook's Off to the Races

If It Hits the Fan

May 21, 2012
Europe’s economy is in a tailspin and China’s is slowing. Our political system is a mess. Who are voters going to blame if it all goes bad? Not just Obama.
More Columns »
Expert Opinions
Transportation Experts

Not Waiting for the Feds

5:54 p.m.

Latest Response by James Corless: Local Voters Need a Partner

Energy Experts

Powering Our Military: What's the Role of Clean Energy?

12:59 p.m.

Latest Response by Tom Buis: American Families Need American Fuel

Energy Experts

Powering Our Military: What's the Role of Clean Energy?

10:35 a.m.

Latest Response by Keith Crane: DoD Renewable Fuels Investment Premature

More Expert Opinions »
Get a trial subscription to National Journal magazine.