Swiss banking giant Credit Suisse can be prosecuted for its role in the US housing finance meltdown, according to a court decision, which dismissed the company’s bid to halt a suit, AFP reported. The bank had filed a motion to have a suit for fraud over the sale of questionable mortgage securities that dealt buyers $11.2 billion in losses in the housing crisis dismissed. But Justice Marcy Friedman of New York’s Supreme Court authorized the state’s attorney general to pursue the suit in a decision Wednesday. Freidman denied the bank’s claim that a three-year statute of limitations had been exceeded, insisting that the state had six years to file against Credit Suisse.
