FHFA Sues 17 U.S. and Euro Banks for Over $100 Billion in Losses

The Federal Housing Finance Administration (FHFA) has just announced mortgage-related lawsuits against U.S. and Euro banks.  Finally, legal action is being taken against the fraud and abuse of those Wall Street firms and investment bankers that were directly involved in the subprime debacle.  Now, who is going to hold Congress accountable for its complicity with these firms?  Fourteen of the seventeen firms are listed below along with the dollar amount of the lawsuits.  Also, I would like to see some real jail time for those individuals within each of the firms that were directly involved with the mortgage-backed security fraud.

1. Goldman Sachs has been sued over losses on $11.1 billion in securities.
2. Bank of America has been sued over $30.85 billion in losses on securities.
3. Barclays has been sued for $4.9 billion in losses on securities.
4. UBS has been sued for over $900 million in losses on securities.
5. Nomura for over $2 billion in losses on securities.
6. Credit Suisse has now been sued, too. No dollar figure provided.
7. Citigroup has been sued over losses totaling $3.5 billion in losses on securities.
8. Deutsche Bank has been sued for $14.2 billion in losses on securities.
9. JPMorgan has been sued for losses on $33 billion worth of securities. 
10. First Horizon, General Electric, and Ally Financial have been sued too. No dollar amount provided.
11. HSBC has been sued over losses on $6.2 billion worth of securities. 
12. Morgan Stanley has been sued over losses on $10.58 billion in Certificates issued in connection with 33 securitizations underwritten by the firm or its entities.