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Municipal bonds used to be conservative investments sold to Mom-and-Pop, buy and hold retail investors to put under their mattresses for years or even decades. Muni bonds were sold as stable, long-term investments with the clear advantage of generating tax-free income. That is no longer the case. The $3.5 billion […]
A wave of FINRA arbitration is sweeping Puerto Rico and southern states in the US as the fallout from the collapse of Puerto Rican municipal bonds begins. Read More.
U.S. Attorney and FBI have interviewed people of interest , the FICO stands a historic drop in these investments and securities lawyers insist that the situation is not the result of individual actions of brokers “All these allegations closed mutual funds are virtually identical. They are elderly, disabled withdrawn .” […]
Michael Lewis’s new book “Flash Boys” has exposed high frequency trader networks that jump ahead of stock orders from investors and make tiny profits on hundreds of thousands of trades throughout a routine day on Wall Street. Those tiny trades, executed much more quickly than a blink of an eye, […]
Believe it or not, the tiny U.S. island territory of Puerto Rico has a higher legal standard for financial advisors than the SEC requires on the mainland. Puerto Rico has a law that imposes a “fiduciary duty” for financial advisors to follow. That means advisers must act in the client’s […]
Stocks have soared in value the last several years, and a dangerous investment strategy is creeping back into the market: financial advisers may soon recommend that clients tap the equity in their home to buy stocks. Proven disastrous for thousands of investors in the crashes of 2000 and 2008, this […]
Insurance regulators in New York earlier this week beat up the global insurance giant AXA SA pretty good due to shoddy communication with clients about changes the company made to their AXA variable annuity contracts. The $20 million fine against the U.S. arm of the French insurer is the state’s […]
Jake Zamansky Talks About Puerto Rico Bonds in a WOSO Radio Interview. Listen Now!
Puerto Rico’s $3 billion bond offering reveals disturbing information that current bond holders should be aware of. Puerto Rico has made some astounding disclosures regarding the new offering, according to a report by Lisa Lambert of Reuters. A draft of the bond issue’s preliminary offering statement warned that a variety […]
Puerto Rico is heading towards a $3.5 billion bond offering this month which would be used to help stabilize the Island’s finances and pay interest on its $70 billion in current debt. A major question arises as to whether investors in this new debt will be given priority over existing […]