Description: Merrill Lynch & Co. units now owned by Bank of America Corp. won dismissal of claims in a lawsuit filed by MBIA Inc. last year over protection sold against mortgage-debt defaults.

Source: Bloomberg.com

Date: 04/10/2010

Link: http://www.bloomberg.com/apps/news?pid=20601208&sid=ac_igSnXiHDw

Questions for discussion:

• What is the significance of the judge’s decision in this case?
• What are the broader implications for financial institutions?
• What does this article suggest to you about the use of the courts as a means to enforce regulated practices?
• How might financial managers be expected to react to these legal procedures and outcomes?