Special focus: Banking 2008 and
Post-crunch litigation: Lawyers look for sub-prime
A welter of sub-prime and credit crunch related lawsuits have
been filed or are being prepared. There is little surprise,
since it has such a plaintiff-friendly system, that the US is
leading the way. Those with the deepest pockets are being
targeted. Alex Chambers reports on the
MORE THAN A year has
since the credit bubble burst and the true scale of damage
is still unknown. The banking landscape is transformed as the
securitization market becomes a wasteland. Every quarter brings
additional disappointment as banks announce new write-downs in
their credit books. Furthermore, the economic implications are
becoming apparent as growth slows in the US and Europe.
And yet the reckoning is not just a financial one:
increasingly regulators and authorities are announcing
initiatives and rules designed to prevent any recurrence.
Another blow to those who were...