Posts belonging to Category Goldman Sachs
Posted by Page PerryonMay 5, 2011
A California federal court has unsealed a whistleblower suit accusing AIG, Goldman Sachs, Merrill Lynch, Deutsche Bank, and Societe Generale of perpetrating a fraudulent scheme to dupe the Federal Reserve Bank of New York and the U.S. Department of the Treasury into issuing AIG more than $137 billion in bailout loans during the 2008 financial […]
Categories: Brokerage Firms, CDOs, Credit Default Swaps, Derivatives, Deutsche Bank, Financial Industry Whistleblowers, Goldman Sachs, Merrill Lynch, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonApril 20, 2011
The story of a CDO named Hudson-Mezzanine-2006-1 (“Hudson”) shows how Goldman Sachs, the only major Wall Street firm to escape relatively unscathed from the nation’s economic meltdown, created and sold CDO deals in which it secretly took a short position to hedge its long bets on the housing market, according to an article by Greg […]
Categories: Asset Backed Securities, Brokerage Firms, CDOs, Common Securities Broker Abuses, Derivatives, Goldman Sachs, Investigations, Investment Advisers, Investor Alerts, Morgan Stanley, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonApril 15, 2011
Senator Carl Levin, chairman of the U.S. Senate panel that investigated the causes of the financial crisis, said that federal prosecutors should consider bringing perjury charges against Goldman Sachs CEO Lloyd Blankfein and others who testified before Congress last year, according to a Bloomberg article entitled “Goldman Sachs Misled Congress After Duping Clients, Levin Says.”
Categories: Asset Backed Securities, Brokerage Firms, CDOs, Common Securities Broker Abuses, Credit Default Swaps, Derivatives, Deutsche Bank, Goldman Sachs, Investigations, Investment Advisers, Investor Alerts, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonApril 15, 2011
Goldman Sachs manipulated the subprime mortgage derivative market in 2007 for its own benefit, to the disadvantage of its clients, according to a Bloomberg article by Christine Harper and Joshua Gallu entitled “Goldman Traders Tried to Manipulate Market in 2007, Report Says,” which cites a U.S. Senate report.
Categories: Asset Backed Securities, Brokerage Firms, CDOs, Common Securities Broker Abuses, Credit Default Swaps, Derivatives, Goldman Sachs, Investigations, Investment Advisers, Investor Alerts, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes
Posted by Page PerryonApril 15, 2011
A 650-page Senate report on the causes of the financial crisis, citing internal documents and private communications of bank executives, regulators, credit ratings agencies and investors, identifies culprits whose business practices were rife with conflicts and deception, according to a New York Times article by Gretchen Morgenson and Louise Story called “Naming Culprits in the […]
Categories: Asset Backed Securities, Brokerage Firms, CDOs, Common Securities Broker Abuses, Credit Default Swaps, Derivatives, Deutsche Bank, Goldman Sachs, Investigations, Investment Advisers, Investor Alerts, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes
Posted by Page PerryonApril 11, 2011
Structured products are little more than IOUs from issuers and brokers who have come up with complex ways to take investors’ money. They are marketed as “low risk and high yield” ? an oxymoron when dealing with stocks and the market. But to many older, fixed income investors and those tired of low interest money […]
Categories: Bank of America, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Derivatives, Goldman Sachs, Investment Advisers, Investor Alerts, J. P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Stanley, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, UBS, Wachovia, Wells Fargo
Posted by Page PerryonApril 4, 2011
A Manhattan federal judge has consolidated securities class actions against Goldman Sachs Group Inc. and other affiliated persons (Goldman) and appointed three pension funds as co-lead plaintiffs in a lawsuit relating to a collateral debt obligation called Abacus, according to a Reuters article entitled “Pension funds to lead suit vs. Goldman over Abacus.” The class […]
Categories: Brokerage Firms, CDOs, Common Securities Broker Abuses, Goldman Sachs, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities Class Actions, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonMarch 27, 2011
Four of the nation’s largest Wall Street banks are facing threatened lawsuits by the National Credit Union Association (“NCUA”) and, possibly, regulators if they do not refund approximately $50 billion that five “wholesale” or “corporate” credit unions used to purchase bonds backed by risky subprime mortgage loans, according to a Wall Street Journal article by […]
Categories: Asset Backed Securities, Bank of America, Brokerage Firms, Citigroup/Smith Barney, Commercial Mortgage Backed Securities, Common Securities Broker Abuses, Derivatives, Goldman Sachs, J. P. Morgan Chase, Merrill Lynch, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes
Posted by Page PerryonMarch 15, 2011
Expecting licensed professionals who provide investment advice to act in their clients’ best interests “should be a basic tenet of the business,” but brokerage firms and their brokers don’t want that fiduciary yoke, says Karen Blumenthal in her InvestmentNews article, “When Your Adviser Can’t Be Trusted.” Moreover, they don’t want the public to know that […]
Categories: A General Overview, Ameriprise, Bank of America, Bank of New York Mellon, Brokerage Firms, Charles Schwab, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Deutsche Bank, Fairness/Just & Equitable Conduct, Fidelity, Goldman Sachs, Investment Advisers, Investment Malpractice, Investor Alerts, J. P. Morgan Chase, Legg Mason, LPL Financial, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, RBC Dain Raucher, Regulatory Developments, Securities America, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, SunTrust, TD Ameritrade, UBS, Wachovia, Wells Fargo
Posted by Page PerryonMarch 1, 2011
Sophisticated institutional investors are bringing claims in waves against Wall Street financial institutions for fraud in the sale of mortgage backed securities, CDOs and related exotic investments. Most recently, Charles Schwab Corp. is among a group of financial institutions suing Goldman Sachs for making material misrepresentations and omissions in connection with the offer and sale […]
Categories: Asset Backed Securities, Brokerage Firms, CDOs, Charles Schwab, Commercial Mortgage Backed Securities, Common Securities Broker Abuses, Credit Default Swaps, Derivatives, Goldman Sachs, Investment Advisers, Investor Alerts, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes
