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	<title>Observer &#187; Scheisse: German Banks Keep Suing Goldman Sachs</title>
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		<title>Observer &#187; Scheisse: German Banks Keep Suing Goldman Sachs</title>
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		<title>Scheisse: German Banks Keep Suing Goldman Sachs</title>

		<comments>http://observer.com/2012/09/scheisse-german-banks-keep-suing-goldman-sachs/#comments</comments>
		<pubDate>Fri, 07 Sep 2012 17:59:47 -0400</pubDate>
					<link>http://observer.com/2012/09/scheisse-german-banks-keep-suing-goldman-sachs/</link>
			<dc:creator>Patrick Clark</dc:creator>
				
		<guid isPermaLink="false">http://observer.com/?p=261647</guid>
		<description><![CDATA[<p><a href="http://observer.com/2012/09/scheisse-german-banks-keep-suing-goldman-sachs/165px-goldman_sachs-svg-3/" rel="attachment wp-att-261660"><img class="alignleft  wp-image-261660" title="165px-Goldman_Sachs.svg" src="http://nyoobserver.files.wordpress.com/2012/09/165px-goldman_sachs-svg.png?w=150" alt="" width="105" height="105" /></a>German lender DZ Bank AG sued Goldman Sachs over $188.6 million in mortgage-backed securities, according to Bloomberg, claiming that investment bank <a href="http://www.bloomberg.com/news/2012-09-07/goldman-sachs-sued-by-dz-bank-in-new-york-over-mortgage-bonds.html">misrepresented</a> the loans underlying the securities.</p>
<p>Earlier in the week, Bayerische Landesbank sued Goldman over about $511.9 million in securities underwritten by Goldman, charging that the  securities were riskier than promised and were “<a href="http://www.bloomberg.com/news/2012-09-05/goldman-sachs-sued-by-bayernlb-over-mortgage-securities.html">destined to fail</a>,” according to Bloomberg, citing a complaint filed Wednesday in New York State Supreme Court.</p>
<p>And IKB Deutsche Industriebank AG sued Goldman, alleging "<a href="http://www.bloomberg.com/news/2012-09-05/citigroup-sued-in-new-york-over-137-million-in-mortgage-bonds.html">material misrepresentations</a>" on $73.2 million in mortgage securities. (IKB also sued Citigroup in an apparently similar suit.)</p>
<p>Together which serves to remind us of <a href="http://www.vanityfair.com/business/features/2011/09/europe-201109">Michael Lewis' line</a> about who was buying the worst of the mortgage-backed securities n the run-up to the financial crisis: “Stupid Germans in Düsseldorf.”</p>
<p>&nbsp;</p>
]]></description>
		<content:encoded><![CDATA[<p><a href="http://observer.com/2012/09/scheisse-german-banks-keep-suing-goldman-sachs/165px-goldman_sachs-svg-3/" rel="attachment wp-att-261660"><img class="alignleft  wp-image-261660" title="165px-Goldman_Sachs.svg" src="http://nyoobserver.files.wordpress.com/2012/09/165px-goldman_sachs-svg.png?w=150" alt="" width="105" height="105" /></a>German lender DZ Bank AG sued Goldman Sachs over $188.6 million in mortgage-backed securities, according to Bloomberg, claiming that investment bank <a href="http://www.bloomberg.com/news/2012-09-07/goldman-sachs-sued-by-dz-bank-in-new-york-over-mortgage-bonds.html">misrepresented</a> the loans underlying the securities.</p>
<p>Earlier in the week, Bayerische Landesbank sued Goldman over about $511.9 million in securities underwritten by Goldman, charging that the  securities were riskier than promised and were “<a href="http://www.bloomberg.com/news/2012-09-05/goldman-sachs-sued-by-bayernlb-over-mortgage-securities.html">destined to fail</a>,” according to Bloomberg, citing a complaint filed Wednesday in New York State Supreme Court.</p>
<p>And IKB Deutsche Industriebank AG sued Goldman, alleging "<a href="http://www.bloomberg.com/news/2012-09-05/citigroup-sued-in-new-york-over-137-million-in-mortgage-bonds.html">material misrepresentations</a>" on $73.2 million in mortgage securities. (IKB also sued Citigroup in an apparently similar suit.)</p>
<p>Together which serves to remind us of <a href="http://www.vanityfair.com/business/features/2011/09/europe-201109">Michael Lewis' line</a> about who was buying the worst of the mortgage-backed securities n the run-up to the financial crisis: “Stupid Germans in Düsseldorf.”</p>
<p>&nbsp;</p>
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