Legal Updates & News
Bulletins
Financial Services Report, Fall 2008
September 2008
Financial Services Report, Fall 2008
In this Issue:
zEditor’s Note
zMoFo Metrics
zBeltway Report
zOperations Report
zFirm Offer Update
zMortgage Report
zPreemption Report
zPrivacy Report
zArbitration Report
Editor’s Note
These are things we learned this summer: That it is much harder it is to play BrickBreaker with the new RIM
trackball than the old trackwheel. That salmonella was an heirloom variety of jalapeño pepper. And that photos
of the Jolie-Pitt twins were worth $14 million. By our reckoning, that makes their nail clippings worth about $1
million per Little Piggy. We’re putting our baby pics on eBay.
Sorry, it’s hard to believe that summer is over. Our palm tree fingernail decals are already starting to fade.
It’s fall now, and Congress is back in session. Also, it’s election season, so look to the right and to the left
before proceeding. Legislators on both sides of the aisle will be trying to perfect the indoor hammer throw. It’s
true that the Democrats are divided, but not how you think. It’s between the fist bumpers and the chest
thumpers. Based on what we saw in Denver, they look like they were getting ready to invade Georgia.
Meanwhile, the Republicans look like they’re wondering where the peloton went.
The Olympics changed not only fashion but also the vernacular. “Wind-aided” briefs have always been part of a
lawyer’s armory, but how long before someone invents a Speedo LZR Racer business suit? And what about
the 4-by-4 fifty-state survey, mixed “due diligence,” and the rare triple entendre dismount? We plan to try out
for rhythmic linguistics.
Returning to topic, Fannie and Freddie teetered and may soon totter. Credit cards and mortgages continue to
take center stage as Congress and the regulators do the hokey-pokey. And it’s finally prime time for subprime,
with scores of race-based discrimination and “Option ARM” cases proceeding. Hundreds of subprime-related
Related Practices:
zFinancial Services Law
zFinancial Services Liti
g
ation
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