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Banks can’t be sued for causing urban blight (access required)

By: Pat Murphy
Published: May 22, 2009

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Investment banks can’t be sued for causing the deterioration of urban neighborhoods experiencing massive home foreclosures in the wake of the subprime lending crisis, a U.S. District Court in Ohio has ruled in granting a dismissal. The city of Cleveland sued a number of investment banks for public nuisance, alleging that the defendants’ participation in subprime ...
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