Friday, July 4, 2008

Interesting: Wall St. Firms Knew About Debt Troubles, But Didn't Warn Public

Wall Street firms warned state officials in Massachusetts about problems in a $330-billion slice of the bond market last January, but not the public before the market collapsed on Feb. 13, this Boston Globe report says. Massachusetts securities authorities last week charged UBS Financial Services with fraud for failing to warn individual investors and its own brokers that the market was on the brink of failure, the story says. But other Wall St. firms knew about the troubles, too, the report discloses.
TAGS: interesting, fraud, Wall Street, markets

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