Citigroup sold certain mortgage derivative products without disclosing to investors that Morgan Stanley had helped select the underlying mortgage bonds while it was betting against them. Citigroup had underwritten seven series of collateralized debt obligations called Jackson Segregated Portfolio in 2006, and the marketing documents for the $205m portfolio did not disclose who selected the underlying bonds.
0 minute readCiti didn’t reveal Morgan Stanley role in Jackson CDO: report
May 21, 2010, 12:50pm
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
