Bank of America, JP Morgan Chase, Goldman Sachs, and Deutsche Bank in a row over ten banks are reported to be sued by the Bureau of American Housing Funding.
The agency is expected to file charges that the banks were negligent telling evidence that borrowers falsified income, and then compile a collection of home loans into securities.
Mark Lamkin, Lamkin Wealth Management leadership, saying the banks were not the only one blamed for the housing market decline in 2008.
"They also have to sue rating agencies. The banks were not able to rank their own performance. They should ask for the S & P and Fitch to make the ranking. If they are not ranked three of A, they will never be able to sell what they sell it, "said Lamkin.
Lamkin said the weak government regulation and consumer ignorance also contributed to the crisis.
Officials at the Bureau of Residential Funding would not comment on reports about the lawsuit.
News of the legal action was published after the price of banking shares plummeted by 35 percent in the month Agusus.
Mark Lamkin said the lawsuit that resulted in additional pressure on bank profitability, but will not be worrying investors in the short term. However, it can be changed.
"If the number is unusually large meningkatluar and the banks must raise capital or banks were forced to ask for bail or Government Deposit Insurance Agency (FDIC) to intervene, then it's troubling market conditions, consumer, and so forth," he said further.
The destruction of the U.S. housing market triggered a global financial crisis. James Sweeney, editor of the New York Financial Press, said in a global economy, American banks in turn also affected by the events overseas. He pointed to Europe, the banking system is affected by unemployment and debt problems in several countries.
