Bringing Down the Banksters

If the government won't go after the big banksters, the small banks are showing no such reluctance:

JPMorgan Chase & Co. and credit- ratings companies lost a bid to throw out lawsuits over the sale of $2.8 billion of mortgage-backed securities to the Federal Home Loan Bank of Pittsburgh.

Pennsylvania state Judge R. Stanton Wettick Jr. in Pittsburgh said some claims could proceed against JPMorgan and ratings companies Moody’s Corp., Fitch Group Inc. and McGraw- Hill Cos., which owns Standard & Poor’s Financial Services LLC, according to a Nov. 29 court order.
...
The bank claims it wouldn’t have bought the bonds if JPMorgan, which sold them, and the ratings companies “had provided complete and accurate information regarding the risks of nonpayment,” the judge said in his description of the complaint.

Personally, I'd rather have seen pitchforks, torches and tumbrels.

But this will do.