oh, i see, you changed the subject of lozman vs lozeman to UBS. is it because of tonys sappy reply brief on appeal that also mentioned the following?
Thus, the government commends the fact that well after the horse had departed, the District Court locked Mr. Elgindy inside the barn when he tried to chase it down."
lma(zz)o when was tony locked inside a barn? btw, did tony travel with fane?
in regards to UBS, don't forget to mention Merrill Lynch and others!
The Subprime Cleanup Intensifies
Did UBS Improperly
Book Mortgage Prices?
Several Probes Expand
By KARA SCANNELL, ANITA RAGHAVAN and AMIR EFRATI
February 2, 2008; Page B1
Federal criminal prosecutors in New York are investigating whether UBS AG misled investors by booking inflated prices of mortgage bonds it held despite knowledge that the valuations had dropped, according to people familiar with the matter....
online.wsj.com
...There is also a broader effort by the Justice Department to look into whether there was fraud in originating, packaging and selling mortgage-related products. The Federal Bureau of Investigation has said it has opened criminal inquires into 14 companies as part of an investigation of the subprime-mortgage crisis. The FBI wouldn't identify the companies under investigation...
Massachusetts Accuses Merrill of Fraud
The top securities regulator in Massachusetts accused Merrill Lynch on Friday of defrauding the city of Springfield with subprime-linked investments, casting light on how Wall Street
banks sold complex mortgage securities that are now plummeting in value as the housing slump deepens.
“They are alleging fraud against a municipality, ...
nytimes.com
Related
Times Topics: Merrill Lynch & Company William Galvin, the Massachusetts secretary of state, filed a civil fraud complaint against Merrill a day after the firm took the unusual step of agreeing to reimburse Springfield for losses on the investments. Merrill agreed to buy back the securities at their original value, $13.9 million, after determining that its brokers had not been authorized by Springfield to buy the securities on the city’s behalf.
Groups question buyout of lender
Consumer groups in four states have asked congressional banking and finance committees to conduct hearings on Bank of America Corp.'s proposed $4.1 billion buyout of struggling mortgage lender Countrywide Financial Corp. The groups from California, New York, New Jersey and North Carolina sent letters requesting that lawmakers investigate the possible impact on Countrywide borrowers.
heraldnet.com
Knowledge of debt risk key to loan probe
February 01, 2008: 05:28 PM EST
money.cnn.com
...'In many cases there was a very very high risk that (home loans) wouldn't pay off, but yet it wasn't reflected in their accounting' said Donn Vickrey, co-founder of Scottsdale, Ariz., research firm Gradient Analytics....
how is the mortgage broker business treating you these days? reporters made claim that you're a mortgage broker, are they right? lma(zz)o |
