SMUD sues Wall St. firms over alleged bid rigging
"SMUD sues Wall St. firms over alleged bid rigging" quotes Craig McCann on the impact of alleged bid rigging by Wall Street firms in the municipal derivatives market.
Securities Litigation and Consulting Group, Inc. Releases Leveraged Municipal "Arbitrage" Study
Securities Litigation and Consulting Group, Inc. ("SLCG") has issued an updated study on leveraged municipal bond hedge funds -- including Citigroup's MAT 3, MAT V and Falcon Strategies. The study reports that more than 35 similar hedge funds, including Stone & Youngberg Municipal Advantage Fund, 1861 Capital Management, Gem Capital, Rockwater Hedge Fund, LLC, and Blue River Asset Management Main Muni Fund were mis-marketed to investors as high yield, low risk alternatives to traditional municipal bond funds entitled "Leveraged Municipal Bond Arbitrage:
What Went Wrong?"
Morgan Keegan suits loom large over Regions Financial
"Morgan Keegan suits loom large over Regions Financial" quotes Craig McCann of SLCG on the inferior tranches of structured finance deals that dominated the RMK bond funds' portfolios.
Designed to Deceive: Equity Indexed Annuities
"Designed to Deceive: Equity Indexed Annuities" discusses SLCG research into equity-indexed annuities.
SLCG Announces Updated Regions Morgan Keegan Bond Fund Study
SLCG issued a press release today announcing the distribution of its study of six Regions Morgan Keegan bond funds (RMH, RHY, RMA, RSF, MKHIX and MKIBX) entitled "Regions Morgan Keegan: The Abuse of Structured Finance - Third Draft".