Posts belonging to Category Credit Suisse
Posted by Page PerryonAugust 27, 2010
Some judges are starting to question lenient settlement deals proffered by Wall Street firms and their arguably captive regulator, the SEC, according to an August 19, 2010 article in the Wall Street Journal by David Weidner called “In Search Of Justice for Wall (Street).” Two U.S. District Court Judges, Jed S. Rakoff and Ellen Segal […]
Categories: Bank of America, Barclays, Bear Stearns, Brokerage Firms, CDOs, Citigroup/Smith Barney, Credit Suisse, Goldman Sachs, Hedge Funds, Morgan Stanley, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonAugust 15, 2010
The Financial Industry Regulatory Authority (FINRA) is investigating possible sales practice violations (e.g., misrepresentations and omissions) by Morgan Stanley, Barclays, and Credit Suisse in pitching collateralized debt obligation securities (CDOs) to institutional investors, according to a July 23, 2010 Reuters article by Steve Eder and Leslie Gevirtz, “FINRA probes M Stanley, Barclays, Credit Suisse.”
Categories: Barclays, Brokerage Firms, CDOs, Common Securities Broker Abuses, Credit Default Swaps, Credit Suisse, Derivatives, Deutsche Bank, Goldman Sachs, Investment Advisers, Merrill Lynch, Morgan Stanley, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJuly 8, 2010
The Securities and Exchange Commission is investigating the sale of $200 million in collateralized debt obligations (CDOs) to several Wisconsin school districts, according to a recent Wall Street Journal article by Meena Thiruvengadam and Kelly Nolan (“SEC Investigates Failed CDOs Sold to Wisconsin Schools”). The schools have also filed a lawsuit alleging that the CDOs […]
Categories: Bank of America, Bear Stearns, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Default Swaps, Credit Suisse, Derivatives, Deutsche Bank, Goldman Sachs, Investment Advisers, J. P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Stanley, Mortgage Securities & Collateralized Debt Obligation Problems, Oppenheimer, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, UBS
Posted by Page PerryonJune 12, 2010
Catalyst Health Solutions, a provider of pharmacy benefit management services, has won a $9.8 million FINRA arbitration award against Credit Suisse in connection with student loan-backed auction rate securities. This is one of several successful arbitrations brought against Credit Suisse by investors since the auctions for such securities froze in early 2008, leaving thousands of […]
Categories: Auction Rate Securities, Brokerage Firms, Common Securities Broker Abuses, Credit Suisse, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJune 11, 2010
Merrill Lynch and other Wall Street firms sold the riskiest tranches of collateralized debt obligations (“CDOs”), not just to institutions, but to individual investors, as safe investments, according to a recent Wall Street Journal article by Dan Fitzgerald titled “Didn’t See Risk, and Got Stung.” Now that the CDOs have imploded, and investors are seeking […]
Categories: Bank of America, Bear Stearns, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Derivatives, Deutsche Bank, Goldman Sachs, Investment Advisers, J. P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Keegan, Morgan Stanley, Mortgage Securities & Collateralized Debt Obligation Problems, Oppenheimer, Raymond James, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, State Street, Structured Notes, UBS, Wachovia
Posted by Page PerryonJune 11, 2010
According to a recent article in the Atlanta Journal Constitution, “at least a dozen local governments and other institutions that used derivative deals called swaps to try to lower the cost of bond issues have ended up owing as much as $394 million in fees to the Wall Street investment banks that set up the […]
Categories: Bank of America, Bear Stearns, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Derivatives, Deutsche Bank, Goldman Sachs, Investment Advisers, J. P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Stanley, Mortgage Securities & Collateralized Debt Obligation Problems, Oppenheimer, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, UBS, Wachovia
Posted by Page PerryonJune 5, 2010
In “Paying a price for risky schemes,” Atlanta Journal Constitution reporter Russell Grantham presents an excellent overview of how at least a dozen metro governments and nonprofits that issued debt were whipsawed by the “shadow banking system” ? the freezing of the auction rate securities markets and complex derivative contracts called swaps. As a result, […]
Categories: Auction Rate Securities, Bank of America, Bear Stearns, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Derivatives, Deutsche Bank, Goldman Sachs, Investment Advisers, J. P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Stanley, Mortgage Securities & Collateralized Debt Obligation Problems, Municipal Bonds, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, UBS, Wachovia
Posted by Page PerryonMay 27, 2010
The answer appears to be a resounding yes. The SEC’s recently filed a lawsuit against Goldman Sachs alleging fraud in the sale of mortgage-backed collateralized debt obligations (CDOs). CDOs are a structured finance product in which a large number of mortgages or other debt instruments are pooled in a trust and divided into multiple layers […]
Categories: Brokerage Firms, Common Securities Broker Abuses, Credit Suisse, Derivatives, Deutsche Bank, Goldman Sachs, J. P. Morgan Chase, Merrill Lynch, Morgan Stanley, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, UBS
Posted by Page PerryonMay 13, 2010
Federal prosecutors are conducting a criminal probe into whether multiple major Wall Street banks defrauded investors in selling investments called collateralized debt obligations, or CDOs, that were created, sold and shorted, or bet against, by the banks and certain favored clients. See “Wall Street Probe Widens,” by Susan Pulliam, Kara Scannell, Aaron Lucchetti and Serena […]
Categories: Bank of America, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Derivatives, Deutsche Bank, Goldman Sachs, J. P. Morgan Chase, Merrill Lynch, Morgan Stanley, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, UBS
Posted by Page PerryonApril 20, 2010
Paulson, the hedge fund manager who shorted the Goldman Sachs CDO that is the subject of the SEC’s enforcement action, and the other “shorts” were “driven by disgust and indignation ‘ against Wall Street and its corrupt system designed to generate undeserved bonuses,” according to USAToday’s article entitled “Goldman case shows what’s the matter with […]
Categories: Bank of America, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Derivatives, Deutsche Bank, Goldman Sachs, J. P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Stanley, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, UBS, Wachovia, Wells Fargo
