In September 2005 S&P (Standard & Poor’s) issued “Who will be left holding the bag?” in what would turn out to be a prescient report about the housing market and mortgage backed securities. Around the same time certain investment banks created a new mortgage related security called a CDO (collateralized debt obligation, some were cash […]
HFT (High frequency trading) and the continuing SEC debate requiring a uniform fiduciary standard of care pose two potential strikes against trustees of family and charitable trusts, Pension (Corporate, Union and State, County and City Public Employees) and 401k plans, and directors and members of investment committees and boards of foundations, endowments and non-profit, tax […]