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Allstate Sues Goldman Sachs Over Toxic Investments

(AP) Allstate Corp. is suing Goldman Sachs Group Inc. claiming the broker fraudulently sold it more than $123 million in mortgage-backed securities in 2006 and 2007, before the housing market collapse sent the investments' value plunging. The insurer claims in a lawsuit filed in New York that the...

Bank of America To Pay $1.7 Billion To Settle Mortgage-Backed Securities Claims

NEW YORK - (Mealey's) Bank of America Corp. (BoA) will pay nearly $1.7 billion to MBIA Inc. and certain of its subsidiaries to settle claims in New York State court that BoA misrepresented the investment quality of and risk associated with certain mortgage-backed securities (MBS) it sold to MBIA...