Goldman Sachs Asks 2nd Circ. To Kill MBS Suit

Law360, New York (April 29, 2013, 9:13 PM EDT) -- Goldman Sachs & Co. asked the Second Circuit on Monday to toss a Liberty Mutual Insurance Co. lawsuit alleging that as a Fannie Mae underwriter in 2007 the investment bank failed to disclose the mortgage giant’s exposure to subprime loans.

A host of events interceded between the time Fannie made two securities offerings in 2007 and the financial crisis, when the company was placed into a government conservatorship, Goldman lawyer Jonathan K. Youngwood of Simpson Thacher & Bartlett LLP told a three-judge panel at oral arguments...
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