Goldman Sachs sued again over MBS

Bond insurer CIFG Assurance has become the latest aggrieved party to sue Goldman Sachs for misrepresenting a bunch of MBS-related securities that blew up.

The suit, filed on Tuesday, relates to securities built from a portfolio of 6,204 loans made by M&T, which was also sued. Goldman subsequently packaged these loans into bonds that the plaintiff insured. This follows a suit by Allstate and several others. There will likely be more.

So the issue is whether the projected losses have been reserved against already

Read more: Goldman Sachs sued again – FierceFinance http://www.fiercefinance.com/story/goldman-sachs-sued-again/2011-08-17#ixzz1VUEO1TcS