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Even though the situation is dire in Puerto Rico and time is running out, we have yet to hear from our Congress. A default on its debt will throw Puerto Rico’s government and people, along with the $3.7 trillion municipal bond market, into turmoil. One of Puerto Rico’s chief restructuring […]
The Puerto Rico government is struggling to avoid defaulting on its debts. The next two months are critical for Puerto Rico’s fiscal future; they are also critical for Mom and Pop investors who bought Puerto Rico-backed bonds and bond funds from brokers at UBS and other banks. Puerto Rico is […]
When Wall Street lures Main Street into investing in the risky stuff known as “structured products,” things don’t always end well for the customer. Last week’s $19.5 million settlement between investment bank UBS (UBS) and securities regulators is just the latest example of why Mom and Pop have no business […]
September 2015 has been a busy year for the Securities and Exchange Commission (SEC). The SEC regularly publishes information about its enforcement activities on its website, and through the first two weeks of September we have already seen almost as many notices as we saw in all of August. Here, […]
The sky is falling in Puerto Rico. For the first time, the Government Development Bank debt, purportedly “guaranteed” by the government, is in danger of default. It is likely the GDB’s $354 million debt payment due on December 1 will be missed — a first even for a shaky borrower […]
From professional athletes to everyday individuals, people from all walks of life need to be wary of the risks they can face when trusting other people to manage their investments. Three recent high-profile securities fraud cases highlight some of these risks, and should serve as cautionary tales to individual investors. […]
Puerto Rico and its bond funds are financially under water and quickly running out of oxygen. As regular readers of this blog know, the news for Puerto Rico and the owners of its bonds keeps getting worse. This past week is no exception. For the third time since August, a […]
Many individuals who work for companies that offer retirement plans have virtually their entire life savings – or at least a significant portion of it – invested either with or through their employer. When this is the case, and when an employer’s plan manager mismanages employees’ retirement funds, employees who […]
Zamansky LLC announces it is investigating potential claims by investors with brokerage accounts over structured notes issued by Barclays Plc (NYSE:BCS), Morgan Stanley (NYSE:MS), Deutsche Bank (NYSE:DB), UBS, A.G. (NYSE:UBS), Citigroup (NYSE:C), Bank of America Merrill Lynch (NYSE:BAC), JPMorgan Chase & Co. (NYSE:JPM), Credit Suisse (NYSE:CS), BNP Paribas and other financial firms.
It looks like the end of 2015 may be the end of the road for Puerto Rico. The island’s development bank is expected to exhaust all of its cash by the end of December, according to a recent New York Times article. Making matters even more dire, a large payment […]