Thornburg Trustee Files $2.2B Lawsuit Against Big Banks

The trustee for bankrupt Thornburg Mortgage Inc has sued Goldman Sachs (GS), Barclays (BCS) and other big banks for a combined $2.2 billion, blaming them for the former home loan company’s bankruptcy. The trustee filed four separate lawsuits, the most extensive of which blames a “collusive scheme” by units of JPMorgan (JPM), Citigroup (C), Royal Bank of Scotland, Credit Suisse (CS) and UBS AG (UBS) for driving the company into bankruptcy. – Reuters

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