« AIG (NYSE: AIG) Faces SEC Probe
Subprime Problems May Last Into 2009 »

Schwab (NASDAQ: SCHW) May Settle Subprime Claims

0 Comments Published June 10th, 2008 in Banks.

Bloomberg is reporting that Charles Schwab (NASDAQ: SCHW) may pay $260 million or about 6 weeks profit (1/2 quarter) to settle investors’ claims surrounding one of their bond portfolios with exposure to subprime securities.  The claim involves the Charles Schwab mutual fund prospectus which labelled its the fund “marginally” riskier than cash.  Ooops sorry about that Grandma, by marginally we meant dramatically risker than cash.

Find more subprime information from Google

0 Responses to “Schwab (NASDAQ: SCHW) May Settle Subprime Claims”

Feed for this Entry Trackback Address
  1. No Comments

Leave a Reply


« AIG (NYSE: AIG) Faces SEC Probe
Subprime Problems May Last Into 2009 »
This blog discusses subprime mortgage problems. Subprime problems began when lenders offered loans to potential home owners with bad credit or credit / income that did not meet the standards of traditional lending. Subprime mortgages for people with bad credit or no credit face an uncertain future. Once the hope of many to enter into home ownership has now been corrupted both by overreaching consumers and predatory lenders. I hope to follow the aftermath of this crisis.

Mortgage Lender Implode-o-Meter






Subscribe

Subscribe to my RSS Feeds