MAT/ASTA Cases Reveal the Seamy Side of Wall Street
Ordinarily, the evidence presented in a FINRA arbitration is kept “confidential” and secret from the public. That’s the way the securities industry likes it, because it really does not want the public...
View ArticleThe Number of Very Large Securities Arbitration Cases is on the Rise
The amount of dollars at stake in FINRA securities arbitrations has grown in recent years. Of the 7,000 claims currently pending, approximately 200 involve claims of $10 million or more. “The claims...
View ArticleCitigroup and MAT/ASTA Manager Still Deny Everything Despite Being Caught...
The manager of Citigroup’s disastrous MAT/ASTA municipal arbitrage hedge funds, who left Citigroup in 2008 and now works in Bangladesh, recently told BusinessWeek that he has no regrets, no...
View ArticleUSA Today: Citigroup Forced To Pay $85 Million to MAT/ASTA Investors — And...
USA Today published an article yesterday reporting that Citigroup has been forced to pay at least $85 million to investors in its disastrous MAT/ASTA municipal arbitrage hedge funds. “Investor hedge...
View ArticleIs Time Running Out on Criminal Prosecutions Against Wall Street ?
Federal prosecutors may be about to run out of time to file criminal charges against Wall Street participants for their role in the financial crisis. Charges for most federal offenses, including...
View ArticleInvested in Hedge Funds? You’d Better Think Again!
Hedge funds have long been a quagmire for investors according to informed observers. Nevertheless, they somehow attract money with the lure of spectacular returns despite actual poor performance. Hedge...
View ArticleHedge Funds – Too Much Hype, Too Little Performance
The financial press is increasingly critical of an investment product it glamorized in the past ? hedge funds. As a group they have underperformed unmanaged stock and balanced fund indices for the last...
View ArticleHedge Funds Under Regulatory Scrutiny
The SEC has hired hedge fund industry professionals to assist in its investigation of problems and abuses in the hedge fund industry. Three SEC enforcement units are involved in the investigations: the...
View ArticleToday’s ‘Alternative Investments’ Resemble ‘Limited Partnerships’ of the Past
Wall Street’s recent promotion of alternative investments should warrant serious concern among investors. It serves as an unpleasant example of history repeating itself. In the mid-1980s, Wall Street...
View ArticleHedge Fund Investments – Look Before You Leap
InvestmentNews recently published a lengthy excerpt from Simon Lack’s book entitled “The Hedge Fund Mirage: The illusion of Big Money and Why It’s Too Good to be True” (“Hedge funds benefit insiders...
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