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http://gulfnews.com/business/banking/ad ... k-1.718360

Another case of throwing its toys out of the pram, perhaps ?

I very dear friend of mine works at ADCB in their investment banking - they bought pretty much every structured note, CDO, ABS going in the 2005-2007 period and now have about 800m notional of this which ain't worth much at current valuations. These cases have gained a lot more steam since the SEC fined goldmans for the structured products they created along with Paulson -- a huge conflict of interest and misselling. These things rarely get to court - I forsee an out of court settlement one the lawyers have racked up sufficient fees.

desertdudeshj wrote:http://gulfnews.com/business/banking/adcb-sues-credit-suisse-and-s-p-in-new-york-1.718360

Another case of throwing its toys out of the pram, perhaps ?

It would appear that someone didn't do a proper due diligence.