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Artvoice Weekly Edition » Issue v12n19 (05/09/2013) » Section: Week in Review

Fraud Claim Against M&T Bank Revived

In August, 2011, CIFG Assurance North America, Inc., filed a lawsuit in New York State Supreme Court against Goldman Sachs and M&T Bank Corp., alleging “fraud and breach of contract arising from numerous and systematic misrepresentations and material omissions made by the Defendants in connection with the securitization of a portfolio of approximately 6,204 residential mortgage loans. CIFG is the financial guaranty insurer of approximately $275 million of securities issued in connection with that securitization.”

Small Talk

Nice try, Ralph: Outgoing West District representative Ralph Hernandez has had trouble filing clean nominating petitions in past efforts to run for office, so it was only a mild surprise a week and a half ago when a judge kicked him off the ballot for Tuesday’s Buffalo school board elections. Truly surprising, however, was how many write-in votes Hernandez managed to scare up. The results are still uncertified, but it seems likely that well over 400 voters wrote in his name rather than vote for the only guy on the ticket: James M. Sampson, CEO of Gateway Longview and chair of the city’s control board.

May is National Bike Month

It’s May, and bicyclists are popping up everywhere, like tulips.

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