Posts belonging to Category Asset Backed Securities
Posted by Page PerryonMay 23, 2011
Just when Wall Street banks thought they were was going to get off scot free, New York Attorney General Eric Schneiderman is launching an investigation into the very heart of fraudulent scheme that led to the financial crisis. This has the potential to be the “Mother of All Nightmares” for the banks, according to a […]
Categories: Asset Backed Securities, Brokerage Firms, CDOs, Credit Default Swaps, Derivatives, Investigations, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes
Posted by Page PerryonMay 11, 2011
Underwriters Goldman Sachs, UBS, and Bear Stearns (now owned by JP Morgan) allegedly sold more than $175 million of mortgage-backed securities to insurance giant Mass Mutual without disclosing that they were composed of troubled loans, which made the securities “junk” worth only $40 million, according to a Law 360 article, citing a civil action filed […]
Categories: Asset Backed Securities, Bear Stearns, Brokerage Firms, CDOs, Common Securities Broker Abuses, Derivatives, Goldman Sachs, J. P. Morgan Chase, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, UBS
Posted by Page PerryonMay 3, 2011
Federal prosecutors have filed a civil mortgage fraud lawsuit against Deutsche Bank and MortgageIT unit for alleged “reckless lending practices,” according to a New York Times Dealbook article entitled “U.S. Sues Deutsche Bank Over Mortgages.” Deutsche Bank acquired MortgageIT in July 2006. The complaint reportedly seeks over $1 billion in treble damages and penalties under […]
Categories: Asset Backed Securities, Brokerage Firms, Deutsche Bank, Investor Alerts, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonApril 26, 2011
Securities regulators all agree that exploitation of retirees is a significant and growing problem. According to the U.S. Securities and Exchange Commission, 40 million Americans are age 65 or older, and that number will be 89 million in 2050. Seniors make up 15% of the U.S. population but 30% of fraud victims.
Categories: Asset Backed Securities, Brokerage Firms, Common Securities Broker Abuses, Early Retirement Scams, Elder Abuses, Exchange-Traded Funds (ETFs), Investigations, Investment Advisers, Investor Alerts, Life Policies/Viatical Settlements, Private Investments/Reg D, Promissory Notes, Regulatory Developments, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Structured Notes, Tenant-in-Common Interests, Variable Annuities and Equity-Indexed Annuities
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 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 3, 2011
The asset-backed securities market ? “the Wall Street credit machine that helped set off the financial crisis” ? has come back to life, according to a New York Times article called “Wall Street Securitization Machine Back Into Gear?” Securities backed by commercial real estate, which apparently did not reach expected lows, are leading the pack. […]
Categories: Asset Backed Securities, Bank of America, Brokerage Firms, CDOs, Commercial Mortgage Backed Securities, Credit Default Swaps, Derivatives, Investment Advisers, Investor Alerts, J. P. Morgan Chase, Morgan Stanley, Mortgage Backed Securities, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Wells Fargo
