U.S. lawsuits against U.S Banks

The U.S. government preparing to file lawsuits in more than 12 big banks for misrepresentation of data on loans, which are sold as structured bonds to investors during the housing bubble, according to the newspaper «New York Times», which relay the agency News Reuters.
The article refers to three sources, according to which the Federal Housing Finance Agency, which oversees the U.S. housing market is expected to sue - among others - the Bank of America, JPMorgan Chase, Goldman Sachs, Deutsche Bank and others.The lawsuits could be filed today or tomorrow, says the newspaper, and come as a culmination of the process launched last year.
The U.S. government will argue that the banks did the required quality control of mortgage loans imposed by U.S. law and ignored the evidence that had been tampered with or "inflated" the incomes of mortgage holders. The agency Reuters notes that the practice of mortgage banks in the U.S. giving large mortgages to buyers who do not have the income to serve, was the main cause of the explosion of the housing market in the country.
The Housing Finance Agency filed a lawsuit in July against the bank UBS, calling at least 900 million dollars, while the corresponding amount will be the new lawsuits, the newspaper said. The two large public housing agencies in the U.S., the Fannie Mae and Freddie Mac, have lost more than 30 billion dollars in purchases of securitized mortgage loans, when he broke in 2008, the "bubble" real estate. These losses were covered largely by taxpayers' money. The news of the treatment may have negative impact on shares of the affected banks today, according to Reuters.