Posts belonging to Category Mortgage Securities & Collateralized Debt Obligation Problems
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 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 19, 2011
Moody’s Investors Service and Standard & Poor’s colluded with Wall Street investment banks to profit at the expense of investors by giving faulty AAA ratings to pools of mortgage-backed securities that should have been rated as junk, according to Kevin G. Hall’s article in McClatchey Newspapers entitled “Report: Big profits drove faulty ratings at Moody’s, […]
Categories: Brokerage Firms, CDOs, Derivatives, Investment Advisers, Market Developments, Mortgage Backed Securities, 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 PerryonApril 18, 2011
Wells Fargo & Co. has agreed to pay $11.2 million to settle SEC charges that Wachovia Capital Markets LLC sold mortgage-backed securities called collateralized debt obligations (CDOs) at prices that were 70% higher than its own estimate of the mark-to-market value of the securities, according to articles by Liz Skinner of InvestmentNews (“Wells Fargo to […]
Categories: Brokerage Firms, CDOs, Common Securities Broker Abuses, Derivatives, Investment Advisers, Investor Alerts, Investor Rights, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Wachovia, Wells Fargo
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 PerryonApril 8, 2011
Bank of America expects to face legal losses this year for anywhere from $145 million to $1.5 billion. And that is just what it can reasonably estimate. Most of these losses stem from the underwriting of mortgage-backed securities.
Categories: Bank of America, Brokerage Firms, Commercial Mortgage Backed Securities, Derivatives, Merrill Lynch, Money Market Funds, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools
Posted by Page PerryonApril 4, 2011
A Manhattan federal judge has consolidated securities class actions against Goldman Sachs Group Inc. and other affiliated persons (Goldman) and appointed three pension funds as co-lead plaintiffs in a lawsuit relating to a collateral debt obligation called Abacus, according to a Reuters article entitled “Pension funds to lead suit vs. Goldman over Abacus.” The class […]
Categories: Brokerage Firms, CDOs, Common Securities Broker Abuses, Goldman Sachs, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities Class Actions, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonApril 4, 2011
Gretchen Morgenson reports that the battle for the safety and soundness of U.S. financial markets is far from won, despite the Dodd-Frank financial reform act, as Wall Street lobbies Congress to relax certain key provisions of that act in an attempt to restart the “assembly line for selling toxic waste to investors.” See “Note to […]
Categories: Brokerage Firms, CDOs, Commercial Mortgage Backed Securities, Credit Default Swaps, Derivatives, Economy, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Structured Notes
