Bear Unit Sued Over Bad Loans

Ambac Financial Group has sued EDC, a unit of Bear Stearns, over bad home loans.

  • 05 Nov 2008
Ambac Financial Group has sued EDC, a unit of Bear Stearns, over bad home loans. The bond insurer, in seeking reimbursement for the loans in securities it insured, alleges that the four transactions in question contained inaccuracies and misrepresentations regarding the borrowers’ income and employment status, among other ...

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3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

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