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Senior citizens need to be particularly careful when choosing who to trust to manage their retirement accounts and other financial assets. Even with many seniors choosing not to report mismanagement and scams, the Consumer Financial Protection Bureau found that elderly individuals lost as much as $2.9 billion to financial exploitation […]
The market sell-off last week was the worst week for United States stocks since 2011 and put the S&P 500 Index 7.5% below its recent peak on May 21. The Dow Jones Industrial Average was down 10.1% since the May high. Huge losses were suffered in Europe and Asia, as […]
For years, Puerto Rico has been borrowing from Peter to pay Paul, issuing bonds to pay the interest on its outstanding debt. Now it appears that arrangement, which has turned into a house of cards, is collapsing. Puerto Rico Bond Fund Crisis Puerto Rico’s Governor said in June that the […]
If you lost money in stocks or other investments due to financial advisor fraud or misconduct, filing for arbitration under the Financial Industry Regulatory Authority (FINRA) guidelines may be your only opportunity to recoup your losses. Financial advisor and securities firm contracts typically mandate use of FINRA arbitration for resolving […]
For many investors, discovering that they are victims of stock broker fraud can have life-changing consequences. If you find yourself in this situation, it is important to know that all is not necessarily lost. If your nest egg has been squandered through unsuitable investments or improper trading, you can seek […]
Puerto Rico this month started to miss bond payments. That means a legal fight between the government and the large institutions that own its bonds is about to begin. This legal battle is on top of the hundreds of individual investors in UBS/Puerto Rico bond funds that have already sought […]
The next 24 hours are dire for investors in Puerto Rico bonds. That’s because one of the island Commonwealth’s major debt issuers is about to default on a $58 million bond payment that is due Saturday, August 1. In an article from Thursday afternoon titled, “Puerto Rico Risking Point of […]
Puerto Rico’s $72 billion debt crisis is changing day by day, but looming over investors in the island Commonwealth’s beaten down bonds, is the potential for default. Last week, Puerto Rico missed a payment to one of its trustees after the legislature failed to appropriate the required funds, according to […]
As we prepare for the Fourth of July holiday, all eyes are on Greece and Puerto Rico. While the situation in Greece is still changing hour to hour, it appears that Greece could still default on its debt which could in turn cause a ripple effect of “contagion” to other […]
The Puerto Rican economy is akin to a drowning man swimming against the tide with no lifeguard in sight. Puerto Rico government bonds continue to be downgraded by the rating agencies. The bonds of its electric utility, PREPA, are rated by Moody’s as “the lowest category possible,” according to a […]