Posts belonging to Category Asset Backed Securities
Posted by Page PerryonSeptember 13, 2011
Investors who bought toxic mortgage-backed bonds from Bank of America’s Countrywide, and homeowners seeking loan modifications are proposing drastic measures to better enable BofA to deal with the onslaught of their litigation without a bankruptcy or a receivership imposed by the Federal Deposit Insurance Corporation. According to a Reuters/CNBC.com article entitled “Will Bank of America […]
Categories: Asset Backed Securities, Bank of America, Brokerage Firms, CDOs, Commercial Mortgage Backed Securities, Common Securities Broker Abuses, Derivatives, Investigations, Investment Advisers, Investor Alerts, Market Developments, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities Class Actions, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools
Posted by Page PerryonAugust 9, 2011
The National Credit Union Administration (“NCUA”), acting as liquidating agent for failed corporate credit unions, has filed suit in a federal court in Los Angeles against Goldman Sachs. The complaint involves the sale of $1.2 billion of mortgage-backed securities that were “destined to perform poorly.”
Categories: Asset Backed Securities, Brokerage Firms, Commercial Mortgage Backed Securities, Common Securities Broker Abuses, Goldman Sachs, Investment Advisers, Investor Alerts, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonAugust 8, 2011
Just as a low tide near the seashore can reveal shipwrecks, a falling stock market often reveals misconduct by investment advisers. This is particularly true with respect to an investment adviser’s duty to recommend only investments to a customer that are suitable in light of the customer’s investment objectives, status in life and risk tolerance. […]
Categories: A General Overview, Asset Backed Securities, Bonds, Brokerage Firms, Common Securities Broker Abuses, Derivatives, Early Retirement Scams, Elder Abuses, Exchange-Traded Funds (ETFs), Investment Advisers, Investment Malpractice, Investor Alerts, Investor Rights, Mortgage Backed Securities, Municipal Bonds, Mutual Funds, Nontraded REITs, Private Investments/Reg D, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, Unsuitable Recommendations, Variable Annuities and Equity-Indexed Annuities
Posted by Page PerryonJuly 12, 2011
Bank of America plans to take another $13 billion in charges related to a pending settlement with private label mortgage-backed securities investors, including the Federal Reserve Bank of New York, Pimco Investment Management, and Blackrock Financial Management, according to a Reuters article entitled “BofA to take $13 billion more in charges: Bernstein.”
Categories: Asset Backed Securities, Bank of America, Brokerage Firms, CDOs, Commercial Mortgage Backed Securities, Derivatives, Investigations, Investment Advisers, Mortgage Backed Securities, Securities
Posted by Page PerryonJuly 9, 2011
Wells Fargo & Co. has agreed to pay $125 million to a group of pension funds to settle a class action filed by various public pension funds that purchased billions of dollars of mortgage-backed securities believing their money was in AAA-backed investments, according to a Wall Street Journal article by David Benoit entitled “Wells Fargo […]
Categories: Asset Backed Securities, Brokerage Firms, CDOs, Common Securities Broker Abuses, Derivatives, ERISA Fiduciaries and Claims, Investigations, Investor Alerts, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities Class Actions, Securities/Commodities Arbitration, Securities/Commodities Litigation, Wells Fargo
Posted by Page PerryonJuly 1, 2011
SEC Enforcement Chief Robert Khuzami recently stated that the SEC’s decision not to charge top executives of Wall Street banks with wrongdoing in cases involving structured products was appropriate, according to Suzanne Barlyn’s Wall Street Journal article entitled “SEC: Structured-Product Cases Haven’t Reached Top Bank Officers.” According to Mr. Khuzami, top executives were not involved […]
Categories: Asset Backed Securities, Bank of America, Bank of New York Mellon, Brokerage Firms, CDOs, Citigroup/Smith Barney, Credit Default Swaps, Derivatives, Deutsche Bank, Goldman Sachs, Investigations, Investment Advisers, J. P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Keegan, Morgan Stanley, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, UBS, Wachovia
Posted by Page PerryonJune 29, 2011
Bank of America and its Countrywide unit have reportedly agreed to pay $8.5 billion to settle claims made by a group that includes the Federal Reserve Bank of New York, Pimco Investment Management, and Blackrock Financial Management, who have been pressing the bank for a year to honor its obligation to buyback $47 billion in […]
Categories: Asset Backed Securities, Bank of America, Brokerage Firms, CDOs, Common Securities Broker Abuses, Derivatives, Investigations, Investment Advisers, Investor Alerts, Merrill Lynch, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJune 29, 2011
In her recent New York Times article entitled “Findings That May Get Lost,” Gretchen Morgenson writes about a “disturbing paradox” presented by the following scenario: Investors who lost over $1 billion in toxic RMK bond funds may not benefit from the recent settlement with regulators that Morgan Keegan paid $200 million to obtain, despite findings […]
Categories: Asset Backed Securities, Bonds, Brokerage Firms, CDOs, Common Securities Broker Abuses, Derivatives, Investigations, Investment Advisers, Investor Alerts, Morgan Keegan, Mortgage Securities & Collateralized Debt Obligation Problems, Mutual Funds, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJune 29, 2011
“Nation Goes on Its Merry Way to Ruin” (WSJ) by Pam Luecke, the Donald W. Reynolds professor of business journalism at Washington and Lee University in Lexington, Va., provides her take on Gretchen Morgenson’s and Joshua Rosner’s “Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led To Economic Armegeddon.”
Categories: Asset Backed Securities, Brokerage Firms, CDOs, Credit Default Swaps, Derivatives, Economy, Investment Advisers, Investor Alerts, Market Developments, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Smart Investing Tools
Posted by Page PerryonJune 23, 2011
Morgan Keegan & Company and Morgan Asset Management have agreed to pay $200 million to settle fraud charges related to proprietary bond mutual funds that were both mispriced and loaded with risky subprime mortgage-backed securities. Approximately 39,000 investors lost $1.5 billion in the RMK bond funds (later renamed Helios) that were the focus of the […]
Categories: Asset Backed Securities, Bonds, Brokerage Firms, CDOs, Common Securities Broker Abuses, Derivatives, Investigations, Investor Alerts, Investor Rights, Morgan Keegan, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Mutual Funds, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
