Borrowers, too, are suing both their lenders and the Wall Street firmsthat wrapped up their loans.

The New York-basked global bank, along with much of Wall Street, is in the throes of recovering from bad investments on mortgages and leveraged loans that cut billions of dollars from its portfolio.

We didn't find ourselves in a crisis because Wall Street pretended that slicing, dicing and rearranging bad loans could somehow create AAA assets - and private rating agencies played along.