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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2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

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