Attorneys Gearing Up For Subprime Litigation Explosion

From Financial Week:

• "Here come the lawyers. With the casulties mounting from turmoil in the subprime lending sector and mortgage-backed securities markets, plaintiffs’ lawyers and defense counsel are gearing up for the inevitable lawsuits. They’ll have plenty of clients to choose from. [...] Virtually every party involved in the huge Wall Street securitization machine that financed the late, great housing boom is a potential target—the lenders who originated the loans, the brokers who bought them, the underwriters who pooled them and carved them up into securities, the rating agencies that rated the securities, and the bond insurance companies that guaranteed them."

For more, see Vulture investors feed on subprime carrion: The lawyers (And don’t forget the lawyers: Suits alleging bad, bad things hit lenders, packagers, raters).

For an example of the gearing-up efforts, see American Conference Institute Organizes Subprime Litigation Conference. (DSNews - 8-13-07)