Posts belonging to Category Mortgage Backed Securities
Posted by Page PerryonFebruary 1, 2012
Federal prosecutors plan to file criminal actions against four former traders who allegedly overvalued collateralized debt obligations (CDOs) sold by Credit Suisse in order to increase their commissions. The events occurred in 2008 and resulted in a $2.85 billion write down by Credit Suisse. Credit Suisse fired the traders and cooperated with authorities in their […]
Categories: Alternative Investments, Brokerage Firms, CDOs, Common Securities Broker Abuses, Credit Suisse, Derivatives, Investigations, Investment Advisers, Investor Alerts, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJanuary 30, 2012
Given the array of exotic alternative investments being sold to the public, it’s logical that many investors often don’t understand what they are buying. What is even scarier is that it is likely their professional investment adviser doesn’t understand the alternative investment either. Investment advisers ? 75 percent of them ? admit they do not […]
Categories: Alternative Funds, Alternative Investments, Brokerage Firms, CDOs, Closed End Funds, Common Securities Broker Abuses, Derivatives, Early Retirement Scams, Elder Abuses, Exchange-Traded Funds (ETFs), Fairness/Just & Equitable Conduct, Hedge Funds, High Yield (Junk) Bonds, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Life Policies/Viatical Settlements, Limited Partnerships, Misrepresentation/Omission, Mortgage Backed Securities, Nontraded REITs, Oil & Gas, Preferred Stocks, Private Investments/Reg D, REITs, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Structured Notes, Tenant-in-Common Interests, Unsuitable Recommendations, Variable Annuities and Equity-Indexed Annuities
Posted by Page PerryonNovember 28, 2011
Judge Jed S. Rakoff stunned the SEC and Citigroup by rejecting their proposed $285 million settlement of a case involving Citigroup’s sale to investors of a CDO that Citigroup allegedly “built to fail” and bet against. The judge’s decision made a dent in the SEC’s longstanding policy (“hallowed by history, but not by reason”) of […]
Categories: Alternative Investments, Brokerage Firms, CDOs, Citigroup/Smith Barney, Common Securities Broker Abuses, Derivatives, Fairness/Just & Equitable Conduct, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonNovember 28, 2011
Broker-dealers that sold billions of dollars in fraudulent private placements, such as Medical Capital and Provident Royalties notes, “failed massively in their due diligence responsibilities to investors” according to Gordon Yale, a CPA and expert witness in securities fraud cases. (See “Private-placement due diligence ‘sloppy,’” Investment News). They grossly misrepresented investigations into the investments and […]
Categories: A General Overview, Alternative Investments, Brokerage Firms, CDOs, Common Securities Broker Abuses, Fairness/Just & Equitable Conduct, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Nontraded REITs, Private Investments/Reg D, Promissory Notes, Regulatory Developments, Securities, Securities America, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Tenant-in-Common Interests
Posted by Page PerryonNovember 15, 2011
The National Credit Union Administration (NCUA) announced that it has reached settlements with Citigroup and Deutsche Bank regarding potential claims relating to the sale of residential mortgage-backed securities to five failed wholesale credit unions. NCUA said that it is the first regulatory agency to recover losses on behalf of failed financial institutions that resulted from […]
Categories: Brokerage Firms, CDOs, Citigroup/Smith Barney, Common Securities Broker Abuses, Derivatives, Deutsche Bank, Investigations, Investment Advisers, Investor Alerts, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonNovember 14, 2011
When world markets move significantly in apparent response to major macroeconomic news, even supposedly “uncorrelated assets” move in unison with them, according to Jason Zweig’s Wall Street Journal article, “Caging Raging Contagion.” Such a significant move occurred last week when the Italian government and bonds collapsed over its fiscal problems, and everything else fell, too.
Categories: Alternative Funds, Alternative Investments, Asset Backed Securities, Bonds, Brokerage Firms, CDOs, Closed End Funds, Common Securities Broker Abuses, Derivatives, Exchange-Traded Funds (ETFs), Hedge Funds, High Yield (Junk) Bonds, Investigations, Investment Advisers, Investor Alerts, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Mutual Funds, Nontraded REITs, Preferred Stocks, Private Investments/Reg D, REITs, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Stocks, Structured Notes
Posted by Page PerryonNovember 10, 2011
AIG and other institutional bond investors, which were not part of a proposed $8.5 billion settlement of Bank of America Corp’s mortgage-backed securities liability, complained that the proposed settlement was struck in a “shroud of secrecy.” They have objected to the settlement, want to intervene, and want to review negotiations and documents that led to […]
Categories: Asset Backed Securities, Bank of America, Brokerage Firms, Common Securities Broker Abuses, Investigations, Investor Alerts, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonNovember 1, 2011
Many commentators have noted recently that the Wall Street meltdown of 2007-2008 was not a “black swan” ? that is, an unprecedented and therefore unpredictable occurrence. Named for an influential 2007 book titled The Black Swan by investment fund manager Nassim Nicholas Talib, the black swan was used as a metaphor to explain why humans […]
Categories: Asset Backed Securities, Brokerage Firms, CDOs, Common Securities Broker Abuses, Credit Default Swaps, Derivatives, Hedge Funds, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Investor Rights, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools
Posted by Page PerryonOctober 31, 2011
U.S. District Court Judge Jed S. Rakoff has been asked by the SEC and Citigroup to approve a settlement of charges that Citigroup misled investors in a $1 billion dollar CDO deal called Class Funding III that was tied to residential mortgage-backed securities. Citigroup would pay a $95 million penalty and not admit fault. The […]
Categories: Asset Backed Securities, Brokerage Firms, CDOs, Citigroup/Smith Barney, Common Securities Broker Abuses, 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
Posted by Page PerryonOctober 24, 2011
Reuters blogger Felix Salmon seems to see evidence of the SEC colluding with banks to let them off the hook for most of their “built to fail” synthetic (derivatives-based) CDOs (see “Is the SEC colluding with banks on CDO prosecutions?”). What has raised eyebrows was an email from a Citigroup spokesperson saying that Citigroup has […]
Categories: Asset Backed Securities, Brokerage Firms, CDOs, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Default Swaps, Derivatives, Investigations, Investment Advisers, Investor Rights, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
