See You In Court: The New York Times reports the federal government is preparing to sue more than a dozen major banks over allegations they misrepresented the quality of mortgage securities collected and sold during the housing boom. The Federal Housing Finance Agency complaints are expected to be filed in the next several days against banks that include Bank of America, Goldman Sachs and JPMorgan Chase.
It's Over: U.S. Justice Department lawyers told a federal appeals court panel that a judge's ruling declaring the military's ban on openly gay service members unconstitutional is moot and should be vacated, The National Law Journal reports. DOJ had challenged the judge's ruling. The repeal of "Don't Ask, Don't Tell" is expected to become effective Sept. 20.
Potential Loser: Analysts told The New York Times a successful block of the proposed merger between AT&T and T-Mobile could leave T-Mobile in a worse position than it was before the deal was announced. T-Mobile's share of the national wireless market has fallen from 12 percent to 10 percent since 2008, one analyst said. The Times also spotlights the key DOJ officials involved in the antitrust enforcement effort.
Expelled: Turkey has expelled Israel's ambassador from the capital Ankara, the country's second largest city, amid a growing feud following last year's skirmish off the coast of Gaza in which Israeli soldiers killed eight Turkish citizens and one American.
In The Trunk: A police officer in Utah on a routine traffic stop reported finding more than 100 diamond rings that the authorities believe could be linked to a robbery from a Denver-area store called "Sonny's Rocks," The Salt Lake Tribune reported. Two men dressed as clowns robbed the store in August.
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