[mEDITate-OR:
miss out on all the "legal" vs "ill-legal" action(s)...
Below are three takes on what the newly filed class action means.
As Jim @CR suggests, the third one, by Naked Capitalism, is the most interesting.
Enjoy, your reading.
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The GSEs have a huge advantage over other investors because the FHFA can issue subpoenas. The article mentions estimates that the banks could face put-backs ranging from $24 billion to as high as $179 billion.
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WSJ: Here come the GSE Put-Backs
http://www.calculatedriskblog.com/2010/10/wsj-here-come-gse-put-backs.html
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Regulator for Fannie Set to Get Litigious
http://online.wsj.com/article/SB10001424052702304011604575564631414300418.html
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More on Why the PIMCO, BlackRock, Freddie, NY Fed Letter to Countrywide on Putbacks Is Way Overhyped
http://www.nakedcapitalism.com/2010/10/more-on-why-the-pimco-blackrock-freddie-ny-fed-letter-to-countrywide-on-putbacks-is-way-overhyped.html
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