As I said in my last post, I fully expect that the authorities will investigate potentially fraudulent practices.
This article, from the January 4th (today's) edition of the Wall Street Journal reflects another example of an investigation.
In this case, the Financial Industry Regulatory Authority, Wall Street's self-regulatory body, appears to be investigating if CMOs were sold to individuals that either were not fully apprised of the risks, or who weren't in a financial position to take on such risks. The probe is specifically focusing on a period when demand for CMOs weakened.
The article also states that the SEC is will conducting a parallel investigation.
This article, from Bloomberg, provides further information.
Friday, January 4, 2008
Fraud in MBOs?
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