February 22, 2012

L.A. gets tough with banks for blight

L.A. gets tough with banks for blight

Silvia Lobato's home was fine until her landlord lost it two years ago. Now the kitchen sink plumbing has a leak that has caused the unit to rot and breed worms, the bathroom ceiling is covered with mildew, and mice scramble in the walls.In a keenly watched move this month, Los Angeles forged a new strategy — it sued one of the world’s major financial institutions, Deutsche Bank.