Merrill Lynch Probed in Subprime CDO Sale To City
Sree Vidya Bhaktavatsalam of Bloomberg reports that Merrill Lynch & Co. was subpoenaed by Massachusetts regulators after the value of collateralized debt obligations the brokerage firm sold to the city of Springfield plunged 91 percent because of losses tied to subprime mortgages.Secretary of State William Galvin yesterday issued the request for information to New York-based […]
Collateralized Debt Obligations In Default
Atlanta Investment Fraud Attorneys At The Frankowski Firm, we stand as a beacon of trust and advocacy for investors who have been victimised by unethical brokers or investment advisors. With a steadfast commitment to justice, our seasoned Atlanta investment fraud law firms tirelessly advocate for investors, both small and large, who have suffered financial losses due to […]
Collateralized Debt Obligation (CDO) Lawsuits May Increase In 08
Atlanta Investment Fraud Attorneys At The Frankowski Firm, we stand as a beacon of trust and advocacy for investors who have been victimised by unethical brokers or investment advisors. With a steadfast commitment to justice, our seasoned Atlanta investment fraud law firms tirelessly advocate for investors, both small and large, who have suffered financial losses due to […]
Collateralized Debt Obligations (CDOs) On Downgrade Watch
Atlanta Investment Fraud Attorneys At The Frankowski Firm, we stand as a beacon of trust and advocacy for investors who have been victimised by unethical brokers or investment advisors. With a steadfast commitment to justice, our seasoned Atlanta investment fraud law firms tirelessly advocate for investors, both small and large, who have suffered financial losses due to […]
Citigroup Admits Subprime Investments Were Losers
Bloomberg News and Reuters reports that Citigroup said that it had lost more money than it had made from financial instruments based on U.S. subprime mortgages.At the same time, the share prices of major U.S. securities firms fell on Wall Street amid fears about the effect of the mortgage crisis on earnings. William Mills, chief executive […]
Bond Fund Litigation
Failure to Diversify Attorneys Helping Investors File Claims When Stockbrokers Failure to Diversify Investments Professional counsel if your portfolio suffers due to failure to diversify investments Failure to Diversify Investments is a fundamental tenant of investment strategy. Investor portfolios should never be over-concentrated in one particular business or market sector. Investing in a broad range […]
Regions Bank Takes $38 Million Charge To Cover Morgan Keegan Fund Losses
The WSJ reports that Regions Financial Corp. will set aside four times as much money to cover expected loan losses in the fourth quarter as it did in the third, citing further weakening in its portfolio of loans made to home builders. The Birmingham, Ala.-based bank said its loan loss provision would rise to about […]
Securities Regulators Probe Sub-Prime Mortgages
Kara Scannell of the WSJ reports that securities regulators, broadening their review of Wall Street’s role in the mortgage industry, have asked several brokerage firms for information about the marketing and sale of mortgage-related products, specifically those sold to individual investors. The Financial Industry Regulatory Authority, Wall Street’s self-regulatory body, last month sent letters to […]
Home Foreclosures Surge
Sudeep Reddy of the WSJ reports that the number of homes starting foreclosure jumped in the third quarter to the highest level since the Mortgage Bankers Association began keeping track in 1972, while the fraction of homeowners behind in their payments rose to the highest level in 21 years. Both reflect the continuing credit-market turmoil, […]
Mortgage Crisis Meltdown
Greg Ip, Mark Whitehouse and Aaron Lucchetti of the WSJ report that the home has long been the bedrock asset of most American families. Now, its value has become the biggest question mark hanging over the global economy and financial system. Over the past decade, Wall Street built a market for more than $2 trillion […]