In business news, the City of Cleveland has sued twenty-one banks, including Goldman Sachs, Merrill Lynch and Wells Fargo, for their role in the subprime mortgage crisis. Cleveland has been at the epicenter of the country’s foreclosure crisis. The lawsuit alleges that the predatory lending practices of the banks has created a public nuisance that hurt property values and city tax collections. Cleveland Mayor Frank Jackson said, “To me, this is no different than organized crime or drugs. It has the same effect as drug activity in neighborhoods.” There were more than 7,500 foreclosures in Cleveland last year – up from less than 120 in 2002.