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https://www.ambac.com/pdfs/Ambac_v_EMC_First-Lien_First_Amended_Complaint.pdf
Bear Stearns compounded that harm by flagrantly ignoring its contractual obligations to Ambac and others. The loans involved in the transactions at issue in this case are plagued by the same pervasive defects found in the transactions at issue in Ambac’s original action against Bear Stearns.
https://www.reuters.com/article/sppage012-n05291455-oisbn-idUSN0529145520081106
Nov 06, 2008 · Ambac charged that the “Bear Stearns securitization machine was a house of cards, supported not by real value and sound practices but by Bear Stearns appetite for …
https://www.ambac.com/pdfs/FED_Ambac_v_EMC_Proposed_Amended_Complaint_filed_version.pdf
In order to induce Ambac’s participation, Bear Stearns made representations to Ambac in advance of the closing of the Transactions regarding, among other things, (i) the “due diligence” purportedly conducted to prevent defective mortgage loans from entering the
http://www.subprimeshakeout.com/2011/01/ambac-drops-bombshell-proposed-amended-complaint-on-jp-morgan-emc-2.html
Jan 25, 2011 · In a pleading filled with allegations that can only be described as shocking, Ambac has accused Bear Stearns and its former subsidiary EMC Mortgage (both now owned by JP Morgan) of a parade of horribles in its proposed amended complaint in its case over defective residential mortgages in the Southern District of New York.
https://www.slideshare.net/umesh1989/ambac-assurance-corporation-vs-emc-and-bear-stearns-complaint
Jan 30, 2013 · In November2008, Ambac commenced a breach-of-contract action against EMC in federal court in New York, with subject matter jur-isdiction based on the diversity of the parties. After securing discovery of Bear Stearns files, Ambac moved to amend itscomplaint to assert additional claims and join Bear, Stearns & Co. (now JP Morgan) as a defendant.
https://www.ambac.com/pdfs/NYS_Ambac_v_EMC_First_Amended_Complaint_2011-07-18.pdf
In order to induce Ambac’s participation, Bear Stearns made representations to Ambac in advance of the closing of the Transactions regarding, among other things, (i) the “due diligence” purportedly conducted to prevent defective mortgage loans from entering the
https://www.theatlantic.com/business/archive/2011/01/e-mails-suggest-bear-stearns-cheated-clients-out-of-billions/70128/
Jan 25, 2011 · It's this blatant internal awareness inside the Bear mortgage trading division that the Ambac suits says led Bear to implement an across-the-board strategy to …Author: Teri Buhl
https://www.motherjones.com/politics/2013/07/bear-stearns-executives-wall-street-recession/
Jul 31, 2013 · AMBAC Assurance Corp., a company that guaranteed some of Bear’s mortgage bonds and went bankrupt in 2010, accused Bear of fraud in a …
https://www.rollingstone.com/politics/politics-news/everything-you-need-to-know-about-wall-street-in-one-brief-tale-230568/
Jan 13, 2012 · If you read the complaint in the Ambac suit, ... This is from the complaint: Bear Stearns ignored the proposals made by the heads of its due diligence department in May 2005 to …
https://ambac.com/legal_docs.asp
Ambac Financial Group, Inc. and/or its subsidiaries (“Ambac”) may from time to time post documents related to selected legal proceedings in which they are a plaintiff. Ambac is not undertaking an obligation to post all documents for each proceeding or an obligation to revise or update them to reflect changes in events or expectations.
https://www.ambac.com/pdfs/30-Mar-2012_Ambac_v_EMC_First-Lien_Complaint.pdf
story is the same: Driven by management’s “Bear don’t care” mentality, Bear Stearns perpetrated a massive fraud that deceived investors and financial guarantors, such as Ambac, into believing that the mortgage loans backing its securitizations were originated pursuant to
https://www.huffpost.com/entry/bear-stearns-executives_n_3678868
Jul 31, 2013 · AMBAC Assurance Corp., a company that guaranteed some of Bear’s mortgage bonds and went bankrupt in 2010, accused Bear of fraud in a separate lawsuit that described actions by the six mortgage division leaders. AMBAC emerged from bankruptcy in May.
https://www.buzzfeednews.com/article/matthewzeitlin/how-one-sack-of-shit-mortgage-backed-security-came-to-define
Ambac's complaint alleges that Bear "knew and actively concealed that it was building a house of cards." Ambac further said in its complaint that less than 25% of the loans Bear Stearns had acquired from American Home Mortgage were current and 60% had been delinquent for a month. Of those loans, 1,600 ended up in SACO 2006-8.Author: Matthew Zeitlin
https://publicintegrity.org/inequality-poverty-opportunity/bear-stearns-mortgage-executives-have-plum-jobs-on-wall-street/
Jul 31, 2013 · AMBAC Assurance Corp., a company that guaranteed some of Bear’s mortgage bonds and went bankrupt in 2010, accused Bear of fraud in a separate lawsuit that described actions by the six mortgage division leaders. AMBAC emerged from bankruptcy in May.
https://uk.reuters.com/article/ambac-emc/update-1-ambac-sues-ex-bear-stearns-unit-idUKN0529145520081105
Nov 05, 2008 · Ambac charged that the “Bear Stearns securitization machine was a house of cards, supported not by real value and sound practices but by Bear Stearns appetite for …
https://blogs.orrick.com/financial/tag/ambac/
Jul 09, 2018 · Ambac alleges that Bear Stearns, which was acquired by J.P. Morgan, misrepresented the quality of the underlying mortgage loans when obtaining insurance from Ambac on the RMBS. Ambac, which alleges losses of $200 million, brings claims for fraudulent inducement, breach of contract, and successor liability.
https://ftalphaville.ft.com/2011/01/25/468916/a-very-messy-ambac-lawsuit-for-jpmorgan/
The monoline says EMC, Bear Stearns old mortgage-banking arm, misrepresented certain securitised loans that Ambac insured. The lawsuit’s been going back and forth for ages but this month a new...
https://www.bloomberg.com/news/articles/2011-01-25/jpmorgan-refused-mortgage-repurchases-it-also-sought-ambac-filing-claims
Jan 25, 2011 · Ambac also alleges in its proposed complaint that, as early as 2005, Bear Stearns was making a strategy out of earning “double” money on shoddy mortgages.
https://www.crainsnewyork.com/article/20110218/FREE/110219864/ambac-sues-jpmorgan-over-securitization-losses
In mid-2006, Bear Stearns induced investors to buy and Ambac to insure securities backed by a pool of mortgages that a Bear Stearns deal manager called a “sack of s--t,” according to the complaint....
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