Monday, October 06, 2008

The Clean-up Begins

The WSJ reports this morning:

Public pension funds and other big investors, riled about hits they have taken in their securities-lending programs, are now pulling out the stops to get back what they think they are due.

"Pulling out the stops" means litigation. The legal remedies of those investors who believe themselves defrauded by the investment elites have oh so many more remedies this time around.

Among the targets mentioned by the article is my old friend Northern Trust Corp.

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