IT IS SO ORDERED: Court Dismisses City's Subprime Claims

The Cuyahoga County Court of Common Pleas dismisses on summary judgment the City's claims against JP Morgan and GMAC for public nuisance and violation of the state racketeering statute based on their securitization of subprime mortgages in Cleveland and foreclosures improperly prosecuted in the City.  The Court lets stand the City's claim to recover demolition costs on properties owned by the firms.  The City will likely appeal the Court's decision.