Posts belonging to Category Mortgage Securities & Collateralized Debt Obligation Problems
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
Posted by Page PerryonSeptember 28, 2011
A Bank of America employee will collect $930,000 from his former employer, Bank of America, for being fired in violation of the whistleblower protections. The employee blew the whistle on fraud at Countrywide Financial Corp. and led internal investigations that found “pervasive wire, mail and bank fraud involving Countrywide employees,” according to the U.S. Department […]
Categories: Asset Backed Securities, Bank of America, Brokerage Firms, CDOs, Derivatives, Employment Issues, Financial Industry Whistleblowers, Investigations, Investor Alerts, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes
Posted by Page PerryonSeptember 27, 2011
In recent years, hedge funds have become dominant players in the investment markets and the evidence suggests that hedge fund trading (which regularly involves thousands, if not hundreds of thousands, of shares) has been a significant contributing factor to market volatility.
Categories: Alternative Investments, Asset Backed Securities, Brokerage Firms, CDOs, Commodities and Futures, Common Securities Broker Abuses, Credit Default Swaps, Derivatives, Hedge Funds, Investigations, Investment Advisers, Investor Alerts, Market Developments, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Structured Notes
Posted by Page PerryonSeptember 16, 2011
Many investors, both individuals and corporations, were misled by their brokers and harmed during the credit crisis. For various reasons, however, many such investors have not yet taken action to recover their losses. Some have delayed taking action in order to see whether the misconduct warranted legal action while others just put it off until […]
Categories: Alternative Investments, Asset Backed Securities, Auction Rate Securities, Bank of America, Bank of New York Mellon, Brokerage Firms, CDOs, Citigroup/Smith Barney, Common Securities Broker Abuses, Derivatives, Deutsche Bank, Early Retirement Scams, Elder Abuses, Goldman Sachs, Hedge Funds, Investment Advisers, Investor Alerts, J. P. Morgan Chase, Merrill Lynch, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, SunTrust, UBS
Posted by Page PerryonSeptember 15, 2011
The SEC is expanding its investigation into Wall Street’s sales practices involving toxic collateralized debt obligations that were linked to subprime mortgages as more and more evidence comes out that the Wall Street banks deliberately defrauded some of their customers.
Categories: Asset Backed Securities, Brokerage Firms, CDOs, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Derivatives, Fairness/Just & Equitable Conduct, Goldman Sachs, Investigations, Investment Advisers, Investment Malpractice, J. P. Morgan Chase, Misrepresentation/Omission, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
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 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
