There will be a tremendous amount of litigation arising out of the mortgage industry meltdown that has caused severe problems for the U.S. economy and for the people who became victims as a result of the combination of corporate greed and weak or non-existent government regulation. Consumers who lost houses and investments will be filing lawsuits all over the country trying to recoup their losses. Bank failures, suspect lending practices and risky investments in mortgage-backed securities have hurt hundreds of thousands of consumers and businesses. With the drop in stock and property values, investors lost some $5 trillion in value according to media reports.
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