Baltimore City is going after some big financial institutions in a class action antitrust lawsuit.
The lawsuit alleges price-fixing and conspiracy in the Fannie Mae/Freddie Mac bond market. City Solicitor Andre Davis said he's bringing the suit to protect city taxpayer interests.
"We have focused on those inside the city and outside the city who pose a risk of harm, financial harm or other harm, to the people of Baltimore," Davis said.
Davis said the city has filed the class-action antitrust suit seeking to recover damages for a price-fixing conspiracy in the sale and purchase of debt issued by the Federal National Mortgage Association, or Fannie Mae, and the Federal Home Loan Mortgage Corp., also known as Freddie Mac. They are referred to as "FFBs," short for Fannie and Freddie bonds.
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4 comments:
How about going after a corrupt MAYOR ?????
You understand that a state prosecutor and the city’s inspector general are both already looking into that, right? It’s right out in the open in a bunch of news articles in the last week. No need to comment on something entirely unrelated
St.u
So once again they are going after financial institutions that won't give loans to those that have no hope of paying them back.
Remember 2008? What have we learned?
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