Toxic Mortgage Bonds

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Morgan Stanley to pay $150 million for pushing toxic mortgage bonds on California’s teachers and public employees 

Apr 25, 2019By

Morgan Stanley has agreed to a $150 million settlement to resolve claims that it misrepresented the poor-quality of pre-crisis mortgage bonds and cost California teachers and public employees millions of dollars, the California Attorney General announced Thursday. The settlement puts an end to a three-year investigation into Morgan Stanley’s failure to reveal the true nature of the mortgage-backed securities is was selling to CalPERs and CalSTRS.

3d rendering of a row of luxury townhouses along a street

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