Citigroup sold certain mortgage derivative products without disclosing to investors that Morgan Stanley had helped select the underlying mortgage bonds while it was betting against them. Citigroup had underwritten seven series of collateralized debt obligations called Jackson Segregated Portfolio in 2006, and the marketing documents for the $205m portfolio did not disclose who selected the underlying bonds.
Citi didn’t reveal Morgan Stanley role in Jackson CDO: report
May 21, 2010, 12:50pm
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
Most Popular Articles
Latest Articles
Sample post – Bo
this is copy on the article
-
How Paris Hilton demonstrated an age-old accounting principle and why this matters for clients
-
Making the 7-day refi reality: Why now Is the time to modernize the mortgage process
-
Affordability-first search: Why patent revival puts real estate at a crossroads
-
Here’s why non-QM earned its place at the mortgage dinner table
-
The future of QC: AI, innovation and the human element
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio