Sub Prime Securities Investment Law Blog

Securities fraud, the subprime mortgage crisis and money market funds.

Author: Brian N. Smiley practices at Smiley, Bishop & Porter in New Orleans; Kirk Reasonover practices at Reasonover & Olinde in New Orleans.

Blawg Related Categories: Securities Law • Solo / Small Firm

Recent Posts from Sub Prime Securities Investment Law Blog

More Bad News For MK High Income and Intermediate Bond Fund Shareholders
If you own one of these funds you probably know that Morgan Keegan's High Income and Intermediate Bond Funds crashed and burned in 2007, losing over 50% of their value in a year. The problem…
Just Another Bad Day Of the Subprime Meltdown
So how bad is it? Take a look at the “Money and Investing” section of the February 8, 2008 Wall Street Journal. The story “Prosecutors Widen Probes into Subprimes” reveals that criminal or regulatory investigations…
THE SUBPRIME MESS: WHY WHAT “THEY” SOLD YOU WASN’T AND STILL ISN’T WHAT YOU NEED
“They” are the giants of Wall Street. “They” are the folks who pumped billions of dollars of bonds backed by subprime mortgage obligations into the hands of unsuspecting investors like you. These loans are called…
BIG BROKERAGE FIRMS LOSE BIG BECAUSE OF LOSSES IN INVESTMENTS BACKED BY SUBPRIME DEBT
Merrill Lynch reported recently its 2007 statistics. The new boss announced $15 billion in subprime mortgage write-downs and a fourth quarter 2007 loss of $9.91 billion. Citigroup recently made similarly stunning write offs and other…
Regions Morgan Keegan Funds Suffer by Comparison
In a comparison of bond funds, Regions Morgan Keegan’s Select High Income Fund was cited as one of the worst disasters of 2007, due to its losses from exposure to investments backed by subprime loans.…
LEHMAN BROTHERS SUED
Two New Jersey residents have filed an arbitration claim against Lehman Brothers holdings for $1.14 billion. The claim alleges that the firm placed the investors savings into “investments that have become hard to sell.” The…
SUBPRIME DEBACLE SPURNS FED AND CONGRESSIONAL ACTION
Fed Chairman Ben S. Bernake appeared before Congress this week to discuss his thoughts on the dwindling US economy, which is still sliding from the subprime debt crisis. The chairman indicated support for a stimulus…
FLORIDA INVESTMENT PLANS LOSE FUNDS ON SUBPRIME BACKED LOANS
The recent purchasing patterns in Florida’s pension funds serve to identify a sleazy side of the subprime debacle. In the February 2008 Bloomberg Markets David Evans has discussed some horrid behavior in a pension fund…
MORGAN KEEGAN MUTUAL FUNDS SUFFER HUGE LOSSES BECAUSE OF EXPOSURE TO SUBPRIME LOANS
The year-end performance statistics are in and there are no huge surprises. Equity mutual funds made lackluster gains, and stock funds with mortgage or financial company holdings suffered losses. The worst sectors were financials and…
MORGAN KEEGAN SUED BY CHARITY FOR TERMINALLY ILL CHILDREN FOR IMPROPER INVESTMENTS
Early this month Morgan Keegan & Co. settled a lawsuit with the Indiana Children’s Wish Fund. This fund, which tries to help terminally ill children fulfill their last wishes, lost nearly $50,000 investing with Morgan…