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Judge Wittick in Pennsylvania state court orders that the Federal Home Loan Bank of Pittsburgh's claims for misrepresentation and Securities Act violations against J.P. Morgan Securities and other issuers of MBS may proceed. The Order also dismisses all claims against the ratings agencies except the plaintiff's claim for fraudulent misrepresentation. You can read my analysis of this opinion at http://subprimeshakeout.blogspot.com/2010/12/federal-home-loan-bank-of-pittsburgh.html.
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