Thornburg Mortgage Bankruptcy Trustee Sues Banks

"The court-appointed trustee overseeing the liquidation of Thornburg Mortgage Inc. is suing some of Wall Street's biggest banks--including J.P. Morgan Chase & Co. , Citigroup Inc. and Goldman Sachs Group Inc. for $2.2 billion, alleging they engaged in series of "collusive" and "predatory" schemes that eventually drove Thornburg into bankruptcy. Joel I. Sher, the bankruptcy trustee overseeing the liquidation of Thornburg, once the nation's second-largest independent mortgage company, filed four suits last week in U.S. Bankruptcy Court in Baltimore against some of the biggest players in Wall Street's mortgage-finance assembly line.''