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Bank of America, N a Et Al V Kissi Et Al, No 8 Form

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Bank of America, N a Et Al V Kissi Et Al, No 8 Form

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PAUL JAY: Welcome to The Real News Network. I'm Paul Jay. And welcome to this week's edition of The Black Financial and Fraud Report with Bill Black, who now joins us from Kansas City. Bill's an associate professor of economics and law at the University of Missouri-Kansas City. He's a white-collar criminologist, a former financial regulator, and author of the book The Best Way to Rob a Bank Is to Own One. Thanks for joining us again, Bill. BILL BLACK: Thank you. JAY: So what do you got for us this week? BLACK: I've got an obscure case that's really important in two different ways. So this is the Flagstar case. And it was sued by what's called a monoline insurer. So Flagstar was a big mortgage lender, and it lent among the riskiest kinds of mortgages and was a major user of liar's loans. These are the pervasively fraudulent loans that I've talked about many times. And Assured--when we say a monoline insurer, that ju

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