[All] Highland Quarry and Keystone XL link: Investors both suing Bank of America

[Louisette Lanteigne]

Hi folks

Quick Correction: Bauport has 23 billion so they're not suffering. They profit from distress debt but are not suffering from it. Quite the contrary but none the less, the issue has many watching the matter closely because it looks like the folks pushing for the Highland Quarry and the Keystone XL are using the same sort of strategy to make up for lost revenues; their suing the heck out of Bank of America. 

Apparently Bauport and BlackRock (The owners of TransCanada who want to build the keystone XL ) are suing Bank of American for not delivering on mortgage backed security claims. Details here: 

http://www.forbes.com/sites/nathanvardi/2011/12/16/blackrock-led-group-goes-after-jpmorgan-with-mortgage-backed-securities-claims/

Interesting how all these issues connect rather quickly.

Lulu
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