NCUA Suing Securities Firms to Recover Billions

[osoab]

I first caught this over @ Denninger's Ticker The NCUA Has Had Enough (http://market-ticker.org/akcs-www?post=188567)

Here's the link to the actual report.

NCUA Suing Securities Firms to Recover
Billions (http://www.ncua.gov/news/press_releases/2011/MR11-0620NCUASues.pdf)

J. P. Morgan Complaint (http://www.ncua.gov/news/press_releases/2011/MR11-0620JPMComplaint.pdf);

RBS Complaint (http://www.ncua.gov/news/press_releases/2011/MR11-0620RBSComplaint.pdf)

Start at page 40 of the RBS complaint and look at the loses projected. Fucking crazy. Read the first paragraph after the charts page 42 or 43.

This was for only 5 credit unions according to Denninger.