4 Financial Stock Stories to Kick Off September Trading
Morgan Stanley (NYSE:MS): Current price $26.21
Morgan Stanley just cannot get past legal disputes connected with its sale of risky residential mortgage backed securities as the National Credit Union Administration has now brought a suit against it to recover losses on $566 million RMBS that were sold to two corporate credit unions that are now defunct. The securities were sold to the United States Central and Western Corporate federal credit unions, and later, these credit unions became insolvent and were placed under NCUA conservatorship, to be liquidated due to the losses from these risky RMBS.
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