Arkansas Settles With Morgan Keegan on Risky Bond Funds – ArkansasBusiness.com
October 19, 2011 Leave a comment
Arkansas Settles With Morgan Keegan on Risky Bond Funds – ArkansasBusiness.com.
Just in case some of you guys and gals need further background on why there is an Occupy Wall Street, read the above linked story. You will learn, in part:
Morgan Keegan & Co. is a subsidiary of Regions Financial Corp. of Birmingham, Ala. The bond funds in question were peddled to investors in 2007, and investors were not informed that the funds were invested in riskier “tranches” of mortgage-backed securities.
In fact, according to the consent order with the ASD, some brokers with Morgan Keegan and its Morgan Asset Management division characterized the funds declining prices as “a buying opportunity” and actively discouraged investors from selling.
It was the rampant LYING that caused the housing market to collapse. The sellers of the worthless securities got rich doing it. The investors were DELIBERATELY MISLED.
