Judge reinstates Ambac fraud claim against Credit Suisse

* Judge reinstates fraud claim against Credit SuisseOct 13 (Reuters) - Ambac Assurance Corp won a bid to reinstate a fraudulent inducement claim against a unit of Credit Suisse Securities over a 2007 mortgage-backed securities transaction Ambac insured.Ambac sued for what it called “pervasive and material misrepresentations” in the mortgage-backed security transaction pooling over 2,000 residential mortgage loans that Credit Suisse underwrote and its affiliate, DLJ Mortgage Capital Inc, sponsored.Credit Suisse may not have had a duty to disclose certain information but New York state Supreme Court Justice Shirley Werner Kornreich said in a decision filed Thursday that the issue is “fact-intensive” and declined to dismiss the fraudulent inducement claim “at this time."In March 2007, New York-based Ambac issued a policy insuring payment of the principal and interest due under the $175 million securitization of 2,563 adjustable-rate home equity lines of credit.Ambac claimed that Credit Suisse misrepresented attributes of the loans, applied more lax underwriting guidelines and less due diligence than it had claimed. Ambac also alleged that Credit Suisse said the transaction mirrored a prior securitization while failing to disclose that loan pool was filled with borrowers with little or no ability to repay.Ambac’s suit alleged that loans representing over 33 percent of the original loan balance, or more than $58 million, had defaulted, requiring Ambac to make over $46 million in claim payments.Credit Suisse countered in court papers that "Ambac could have and should have known of the precise issues of which it now complains. Indeed, if the problems with the loans are as rampant and obvious as Ambac now alleges, then even minimal diligence would have uncovered them."Credit Suisse did not return a call for comment.The case is Ambac Assurance Corporation v. DLJ Mortgage Capital Inc., 60070/2010, New York state Supreme Court (Manhattan).

anonymous asked:

Why are even mobile suits made for space used human shape? its totally pointless...

Jitterin’ Jinn, with Summer Festival EVERYBODY SING ALONG!!! YOU KNOW THE WORDS!!!

Seriously though - lower extremities while unnecessary, aid in AMBAC control of the mobile suit’s vertical orientation in a weightless environment while the arms provide horizontal AMBAC control.

AMBAC control systems are there to rotate a space craft using shifting weight as opposed to fuel driven RCS orientation systems that add weight of additional thruster nozzles, fuel and fuel tanks to contain it.

Basically to do a flip I can kick my robot feet out in front of me and save fuel over using rockets thrusters to turn myself around.

With out legs I’d have to flip around Wonder-Woman style or waste fuel to use rockets to rotate the mobile suit.


The US Economy: A Ticking Time Bomb


“The Zeong is the ultimate mobile suit by which the Zeon forces staked their prestige. Both its arms were equipped with five-barrel beam rifles and capable of flying under their own power, making possible wired all-range attacks like those of the Braw Bro. Because it used Energy CAPs, its thermonuclear reactor could be made relatively compact, allowing it to maneuver with the AMBAC system.

A unique characteristic of the Zeong’s construction was that its head, arms, waist, and legs could all be detached from the central torso. During space combat, it could enter battle without the legs it used for land warfare.

It could also fight by detaching its head, which had sensor systems, and its arms, which were heavily armed with beam cannons, while hiding its central torso—which lacked mobility because it contained a cockpit, a large thermonuclear reactor system, and propellant tanks—behind an asteroid or similar object.”

- from Gundam Century Book/translated by and sourced from Ultimate Mark/Gundam Unofficial

AMX-004 Qubeley

The Qubeley is a next generation mobile suit designed for Newtypes that features numerous technological innovations which allow it to fight on par with other advanced mobile suits that appeared during the Gryps Conflict and the First Neo Zeon War. The Qubeley featured a set of wing binders on its shoulders to assist in AMBAC (Active Mass Balance Auto Control), granting phenomenal mobility.

The most incredible feature of the Qubeley is the fact that it is the first combat mobile suit to be equipped with a mobile suit-sized psycommu system with the new remote funnel weapon. The prototype featured a similar system but its psycommu had not been fully miniaturized and the funnels were stored in its main body, leaving the prototype with a large body that stood 25 meters tall. The system aboard the Qubeley had been perfected and its ten funnel weapons were stored in a tail binder allowing for quicker deployment and recall for charging. Already a formidable mobile suit with its ability to attack from multiple directions with its funnels, the Qubeley was the pinnacle of mobile suit technology in the Gryps Conflict and the First Neo Zeon War.



“With the cooperation of the Flanagan Agency, Kycilia ordered military manufacturers to develop mobile armors equipped with psycommu systems.

Braw Bro: The first mobile armor in history developed for use by Newtypes. It had two dual and two single mega particle cannon turrets, which were capable of detached operation. A wire-guided system, in which reactive wave commands were converted to laser signals and sent through light cables, was used to control these turrets.

During the war there were very few Newtype pilots, so a cockpit escape system of a kind not found in mobile suits was adopted. The fuselage could separate into five parts, each of which could operate under its own power.Since it used traditional mega particle cannons, it required powerful thermonuclear reactors, and so the machine was extremely large.

Thus it was almost impossible for it to maneuver with the AMBAC system, and high mobility verniers were installed throughout its fuselage.”

- from Gundam Century Book/translated by and sourced from Ultimate Mark/Gundam Unofficial