In just under a month of being in office, Michigan’s new Attorney General, Bill Schuette, a former Congressman and state Senator, has taken a firm stance on replenishing the losses incurred to the State of Michigan Retirement Systems (SMRS).

On Wednesday, Schuette and state Treasurer Andy Dillion, announced that the Michigan’s subprime securities lawsuit against Bear Stearn’s received a favorable ruling that would allow the case to “move on to the discovery phase and ultimately toward trial.”

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