Tag Archives: auction-rate


Cuomo likely to file suit against Schwab: report

August 17, 2009 : Permalink

Reuters – New York Attorney General Andrew Cuomo, probing illegal marketing and sales of auction rate securities (ARS), is likely to file a lawsuit on Monday against Charles Schwab Corp (SCHW.O) for civil fraud, the Wall Street Journal said, citing […]

SecondMarket Opens Trading of Mortgage-Backed Securities, Whole Loans and Collateralized Debt Obligations

April 3, 2009 : Permalink

NEW YORK, N.Y. – SecondMarket, the largest marketplace for illiquid assets, announced today that it has launched markets for mortgage-backed securities (MBS), whole loans, and collateralized debt obligations (CDO).  Through SecondMarket, buyers and sellers are able to trade these assets […]

Wachovia to Buy Back Auction Rate Securities from Clients

February 6, 2009 : Permalink

New York (HedgeCo.Net) – Wachovia customers who invested in auction rate securities prior to their collapse will most likely get their money back.  The SEC announced a settlement yesterday with Wachovia Securities that will provide $7 billion in liquidity to […]

Heebner Hedge Fund Targets $5 Billion With Lure of Top Returns

September 10, 2008 : Permalink

Bloomberg – Kenneth Heebner, manager of the top-ranked U.S. stock mutual fund, is seeking as much as $5 billion for his first hedge fund. Heebner, who has worked in the mutual-fund business almost four decades, formed a private investment partnership […]

Cuomo Pressing Major Banks in ARS Probe

August 13, 2008 : Permalink

New York (HedgeCo.Net) – Less than one week after UBS and Citigroup were called upon to buy back over $30 billion in bad auction-rate securities, New York Attorney General Andrew Cuomo is forcing JPMorgan, Morgan Stanley and Wachovia to follow […]