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5th Circuit Revives FDIC Suit Against Deutsch and Goldman Sachs

Blog post from Neil Garfield discussing how the 5th Circuit Court of Appeals reinstated a case against Deutsche Bank and Goldman Sachs that was filed by the FDIC. The banks convinced the trial court to agree with their arguments that the statute of limitations ran out. The 5th Circuit Court of Appeals disagreed and reversed the decision of the trial court.

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NOTE; THE NEIL GARFIELD SHOW WILL RESUME ON THURSDAY SEPTEMBER 10, 2015 6PM EDT
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see http://www.jdsupra.com/legalnews/5th-circuit-revives-fdic-s-suit-against-63041/

see 5thCircuitOpinion

From the Western District of Texas, a place where Banks usually prevail, came a crushing blow to their hopes of evading responsibilities for securities fraud and fraudulent practices involved in the sale of mortgage backed securities. Essentially, the banks were arguing that the true facts that they had withheld or lied about could be covered up until the statute of limitations ran out. The trial court agreed. The circuit court disagreed.

Significant quotes —

The FDIC filed two separate…

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