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Morgan Keegan racks up another big loss on bond fund

0 Comments Published February 25th, 2010 in News.

(Updates throughout, recasts lede, adds details on Wells notice) Morgan Keegan & Co. has been ordered to pay .1 million to an investor group for losses tied to bond funds steeped in risky mortgage-related securities, marking the second such award in days. A securities arbitration panel found Morgan Keegan, a unit of Birmingham, Ala.-based Regions Financial Corp.

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« Credit card offers abound, but terms have changed
Senators get closer on banking reform legislation »
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






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