Purchased in 2002, collapse 2008 which began in 2007 and this is still being litigated. I mean do these banks believe there was no collapse in 2008?



 HSBC Faces $2.46 Billion Judgement in Security Fraud Case (click here)
By REUTERS
Published: October 17, 2013 

A unit of the British bank HSBC was hit on Thursday with a record $2.46 billion final judgment in a securities class-action lawsuit in Chicago against a lender formerly known as Household International.

The judgment, by Judge Ronald Guzman of Federal District Court, was the largest in a securities fraud class-action suit that went to a trial, according to a statement from the Robbins Geller Rudman & Dowd law firm, which represented investors.

Almost all securities fraud class-action cases settle before going to a jury.

Household International was a major mortgage lender to people with blemished credit histories, and HSBC agreed to buy it in November 2002...