Posts belonging to Category Asset Backed Securities
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 bond funds that invested in subprime mortgage-backed securities. The charges were filed by the Securities and Exchange Commission, state regulators from Alabama, Kentucky, Mississippi, Tennessee and South Carolina, and the Financial Industry Regulatory Authority (FINRA). […]
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
Posted by Page PerryonJune 21, 2011
J.P. Morgan Securities LLC has agreed to pay $153.6 million to settle SEC charges that it misled investors in a complex “built to fail” mortgage securities transaction just as the housing market was starting to plummet.
Categories: Asset Backed Securities, Brokerage Firms, CDOs, Citigroup/Smith Barney, Commercial Mortgage Backed Securities, Common Securities Broker Abuses, Credit Default Swaps, Derivatives, Deutsche Bank, Disciplinary Actions, Goldman Sachs, Investigations, Investment Advisers, Investor Alerts, J. P. Morgan Chase, Merrill Lynch, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, UBS, Wachovia, Wells Fargo
Posted by Page PerryonJune 21, 2011
Best-selling “Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led To Economic Armegeddon,” by Gretchen Morgenson and Joshua Rosner, “calls out greedy guys behind mortgage mess,” according to a USA Today book review by Kathryn Caravan. See also “Home Truths,” by James Freeman of the Wall Street Journal. Both reviews provide examples of how the […]
Categories: Asset Backed Securities, Auction Rate Securities, Bank of America, Bear Stearns, Bonds, Brokerage Firms, CDOs, Citigroup/Smith Barney, Commercial Mortgage Backed Securities, Common Securities Broker Abuses, Credit Default Swaps, Credit Suisse, Derivatives, Deutsche Bank, Goldman Sachs, Hedge Funds, Investigations, Investment Advisers, Investor Alerts, J. P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Keegan, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, SunTrust, UBS, Wachovia, Wells Fargo
Posted by Page PerryonJune 21, 2011
The National Credit Union Administration (“NCUA”) has filed suit against J.P. Morgan Chase and Royal Bank of Scotland seeking to recover more than $800 million in failed credit unions’ losses in residential mortgage-backed securities, and expects to file additional lawsuits against five to ten other Wall Street firms to recover billions of dollars in additional […]
Categories: Asset Backed Securities, Brokerage Firms, CDOs, Commercial Mortgage Backed Securities, Common Securities Broker Abuses, Derivatives, Investigations, Investment Advisers, Investor Alerts, J. P. Morgan Chase, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJune 15, 2011
During a recent appearance on CNBC, Meredith Whitney repeated her warning about the municipals market, but downplayed the timing of the wave of defaults she sees coming, according to a Wall Street Journal blog entitled “Meredith Whitney Defends Self on CNBC, Warns of Another Big Downdraft in Housing.” She was pressed about her earlier prediction […]
Categories: Asset Backed Securities, Brokerage Firms, CDOs, Derivatives, Economy, Investment Advisers, Market Developments, Mortgage Securities & Collateralized Debt Obligation Problems, Municipal Bonds, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools
Posted by Page PerryonJune 7, 2011
Defense-minded institutions that have long remained on the sidelines when defrauded have finally woken up and are jumping on the plaintiff-recovery bandwagon as they seek to protect themselves against a variety of wrongdoing, according to Vanessa O’Connell’s Wall Street Journal article entitled “Company Lawyers Sniff Out Revenue.” These actions include waves of claims against Wall […]
Categories: Asset Backed Securities, Auction Rate Securities, Bank of America, Bank of New York Mellon, Brokerage Firms, CDOs, Citigroup/Smith Barney, Commercial Mortgage Backed Securities, Common Securities Broker Abuses, Credit Default Swaps, Credit Suisse, Derivatives, Deutsche Bank, ERISA Fiduciaries and Claims, Goldman Sachs, Investigations, Investment Advisers, Investor Alerts, J. P. Morgan Chase, Merrill Lynch, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Preferred Stocks, Private Investments/Reg D, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, SunTrust, UBS
Posted by Page PerryonJune 3, 2011
Simply stated, senior investors (in fact, all investors) should be very leery of high-risk structured products. Author John Wasik, in conjunction with Demos and The Nation Institute, has published a white paper entitled “How Safe Are Your Savings? How Complex Derivative Products Imperil Seniors’ Retirement Security.” The paper’s focus is on structured products and how […]
Categories: Asset Backed Securities, Bank of America, Barclays, Brokerage Firms, CDOs, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Default Swaps, Derivatives, Early Retirement Scams, Elder Abuses, Goldman Sachs, Investigations, Investment Advisers, Investor Alerts, J. P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Keegan, Morgan Stanley, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Options, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Structured Notes, UBS
Posted by Page PerryonJune 3, 2011
A federal appellate court has denied Credit Suisse’s attempt to overturn a $431 million arbitration award in favor of STMicroelectronics NV in a case involving auction rate securities, according to Ian Thoms’ Law360 article entitled “2nd Circ. Downs Credit Suisse Appeal Of $431M Award.”
Categories: Asset Backed Securities, Auction Rate Securities, Brokerage Firms, CDOs, Common Securities Broker Abuses, Credit Suisse, Derivatives, Investigations, Investment Advisers, Investor Alerts, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJune 2, 2011
The number one rated analyst covering brokerage firms, Brad Hintz, is telling his clients that if Goldman Sachs committed any crimes by misleading its clients about mortgage-backed securities, the firm will will be offered a “slap on the wrist” deal called “deferred prosecution” because it is viewed as “too big to fail,” according to Christine […]
Categories: Asset Backed Securities, Brokerage Firms, CDOs, Common Securities Broker Abuses, Credit Default Swaps, Derivatives, Economy, Goldman Sachs, Investment Advisers, Investor Rights, Market Developments, Mortgage Backed Securities, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, UBS
Posted by Page PerryonMay 27, 2011
The Financial Industry Regulatory Authority (FINRA) has fined Credit Suisse Securities (USA) LLC $4.5 million, and Merrill Lynch $3 million. The fines arise out of FINRA’s findings that the firms misrepresented historical delinquency rates in connection with the residential subprime mortgage securitizations (RMBS) that the firms underwrote and sold. Upon learning of the errors, Merrill […]
Categories: Asset Backed Securities, Bank of America, Brokerage Firms, CDOs, Commercial Mortgage Backed Securities, Common Securities Broker Abuses, Credit Suisse, Investment Advisers, Investment Malpractice, Investor Alerts, Merrill Lynch, Misrepresentation/Omission, Mortgage Backed Securities, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
