2008 Financial Crisis Fraud - Double Dipping!

Apparently investment banks thought they could play a game where they get to eat their cake, keep their cake and steal someone else's cake too.  It works something like this:  you buy a loan, securitize it, collect money on it, put it back to the originator, collect money again, and then disregard contractual obligations by selling it as though you still owned it (I may have that last bit screwed up as it's complicated and not clear exactly how they were ripping people off), but it's a great scam if you can get away with it—and apparently they have gotten away with it until a little report and couple of nice U.S. Senators stirred things up.  Click the link above for a court filing that explains what's going on in an MBIA v. Credit Suisse lawsuit.  Also see here for more background.