"The federal rules were written under assumption that people were not going to be filing lawsuits without real good-faith reasons, " Feder says.

FORBES: Business In The Beltway

The Roberts Court is also likely to trim the sails of plaintiff lawyers who want to use the 1789 Alien Tort Claims Act to pursue 21st-century class actions, Feder said.

FORBES: Supreme Court To Decide If 1789 Law Applies To Shell in 2012

"They're the fastest-growing seller of foreclosed homes in the country right now, " notes Feder.

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Feder favors a plan that would allow Fannie, Freddie and other banks to convert their underwater mortgages to shared-appreciation mortgages that would carry lower monthly payments and give banks and homeowners shared equity stakes in the homes' future appreciation.

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