Litigation Partner Discusses Mortgage-Backed Securities

The American Lawyer

This article, about monoline insurers' litigation against banks over mortgage-backed securities, quotes San Francisco insurance partner and Credit Suisse counsel Barry Levin.

Yet by their own accounts, the monolines did no independent due diligence on the loans, relying instead on what banks told them. "And now that the market has collapsed, they decided to try to shift their losses to others," Levin says.