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Allstate sues Goldman over sour mortgage-backed securities

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sinkingfeeling Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Aug-16-11 03:08 PM
Original message
Allstate sues Goldman over sour mortgage-backed securities
http://www.usatoday.com/money/industries/insurance/2011-08-16-allstate-sues-goldman-sachs_n.htm

NEW YORK (AP) — Allstate (ALL) is suing Goldman Sachs Group (GS), saying more than $122 million in mortgage-backed securities the insurance company bought beginning in 2006 were fraudulent.

Allstate claims Goldman Sachs provided documents about the investments that "contained untrue statements and omitted material facts." The complaint seeks unspecified damages.
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aquart Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Aug-16-11 03:23 PM
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1. I volunteer for the jury.
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CleanGreenFuture Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Aug-16-11 03:25 PM
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2. The sharks are beginning to dine on each other.
Edited on Tue Aug-16-11 03:40 PM by CleanGreenFuture
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Rex Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Aug-16-11 03:26 PM
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3. Good the monsters are starting to eat themselves!
This should be good!
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