Investment Fraud Lawyer Blog
Designed to educate consumers about current events in the financial services industry.
Author: Page Perry is an Atlanta-based law firm.
Blawg Related Categories: Banking Law • Securities Law • Law Firm
Recent Posts from Investment Fraud Lawyer Blog
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Cornerstone Ministries Investors May Have Legal Claims Against Brokerage Firms Or Financial Advisors
Cornerstone Ministries Investments, Inc., a Georgia-based company in the business of lending money to fund churches and/or faith-based organizations, filed for Chapter 11 bankruptcy on February 10, 2008 after apparently investing in speculative secular real…
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Fixing Wall Street?
In the face of the myriad of problems affecting the financial world, Wall Street is embarking on a bold, and for it a mostly unprecedented, tactic. It is telling the truth. According to Andrew Ross…
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Mortgage Crisis Hits Prime Loans
Although the figures remain relatively small, mortgage delinquencies have now spread beyond subprime borrowers to prime borrowers, according to a front-page article in the May 9 -11 edition of USA Today. According to data from…
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With 50,000 Layoffs So Far This Year, Wall Street Employees Must Protect Themselves
Wall Street continues to shed jobs at breakneck speed, and financial firm employees cannot help but wonder how many heads will ultimately roll. The number of announced layoffs increases weekly. According to an article in…
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UBS Will Pay $35 Million To Redeem Auction-Rate Securities Sold To Massachusetts' Cities
UBS AG will pay approximately $35 million to approximately 20 Massachusetts towns and cities that invested in the auction rate securities market. As reported by Forbes.com, the Swiss banking giant confirmed that it has entered…
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Jim Rogers Contradicts Wall Street -- The Worst Is Yet To Come
Jim Rogers, a co-founder with George Soros of the Quantum Fund, has contradicted his old partner and most Wall Street firms with his prediction that the global credit squeeze caused by US housing loan delinquencies…
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Wachovia Receives Auction-Rate Securities Subpoenas
Wachovia has announced that its securities unit has received subpoenas from the SEC and various state regulators regarding its auction-rate securities practices. In April, the SEC requested auction-rate securities information from various brokerage firms after…
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More Subprime And Alt-A Mortgages Heading Underwater
According to Jody Shenn of Bloomberg.com, Barclays Capital has reported that about half of subprime and Alt-A borrowers will soon either have little equity in their homes or will actually owe more on their mortgages…
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Internationally Famous Economist Disputes Wall Street's Claim That "The Worst Is Over"
In an April 25 interview with CNBC, Nobel Prize Laureate Professor Joseph Stiglitz of Columbia University provided a bleak long-term outlook for the U.S. economy. "This is going to be one of the worst economic…
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Morgan Stanley To Lay Off Five Percent of Work Force
According to a published report in Bloomberg.com, Morgan Stanley plans to lay off up to five percent of its work force during the remainder of 2008. These layoffs were driven by Morgan Stanley's recently announced…