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December 21, 2007

Subprime Lawsuits Rising Rapidly

Subprime lawsuits are rising rapidly, which you had to know was going to happen. Hey, what were all those lawyers going to do after the decline in option-backdating suits? Get real jobs? Become economically useful? Naaah.

Somewhat more seriously, the first subprime suit was February 8, 2007, and the number of such suits quadrupled in the second half of the year versus the first half. I have to believe it will grow by at least the same amount over the next six months, making this one of the largest legal adventures in recent memory.

More here.

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