In announcing one of the biggest lawsuits to come out of the financial crisis, New York Attorney General (NYAG) Eric Schneiderman made clear Tuesday that investigators are prepared to bring more actions against institutions involved in the mortgage mess.

"There are quite a few investigations underway, and we'll bring cases when they're ready," Schneiderman told reporters after announcing civil charges alleging fraud in how Bear Stearns packaged and sold mortgage-backed securities.

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