Hundreds of Banks Threatened by New Subprime Crisis

Excerpt:  The reserves of hundreds of banks are at risk, including some major banks, after a little-noticed federal court decision signaled the crisis in securitized home mortgages could spell much more trouble for financial institutions than previously realized, even on Wall Street.Justice Christopher A. Boyko of the Eastern Ohio U.S. District Court dismissed 14 Deutsche Bank-filed home foreclosures Oct. 31, based on a ruling that the German financier lacked standing for not owning the mortgage loans at the time the lawsuits were filed. Read More