2 years, 1 month ago
Merrill Lynch – Magnetar – Rabobank case: a GoldmanSachs-like "fraud" allegation . Any more potential cases that you know of ?
Saw this article:
Merrill Used Same Alleged Fraud as Goldman, Bank Says
Excerpt:
“Merrill Lynch’s arrangement involved Magnetar, a hedge fund that bet against a CDO known as Norma, Rabobank claimed.
Norma’s largest investor was investment bank Cohen & Co, with more than $100 million in notes, according to Rabobank’s complaint.
Merrill loaded the Norma CDO with bad assets, Rabobank claims. Rabobank seeks $45 million in damages, according to a complaint filed in state court in June 2009. Rabobank initially provided a secured loan of almost $60 million to Merrill, according to its complaint.”
It was said it’s like Goldman Sachs’s case, with some role changes:
Merrill Lynch, replaces Goldman Sachs;
Magnetar, replaces Paulson & Co.,
Victims: Rabobank, replaces IKB, ABN Amro.
Instrument: Norma CDO, replaces Abacus CDO.
Any other similar, potential cases ?
Thanks.
Merrill Used Same Alleged Fraud as Goldman, Bank Says
Excerpt:
“Merrill Lynch’s arrangement involved Magnetar, a hedge fund that bet against a CDO known as Norma, Rabobank claimed.
Norma’s largest investor was investment bank Cohen & Co, with more than $100 million in notes, according to Rabobank’s complaint.
Merrill loaded the Norma CDO with bad assets, Rabobank claims. Rabobank seeks $45 million in damages, according to a complaint filed in state court in June 2009. Rabobank initially provided a secured loan of almost $60 million to Merrill, according to its complaint.”
It was said it’s like Goldman Sachs’s case, with some role changes:
Merrill Lynch, replaces Goldman Sachs;
Magnetar, replaces Paulson & Co.,
Victims: Rabobank, replaces IKB, ABN Amro.
Instrument: Norma CDO, replaces Abacus CDO.
Any other similar, potential cases ?
Thanks.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
