Oppenheimer’s College Fund Loses 38% Using Borrowed Money To Buy Mortgage-Linked Securities; Amazingly Oppenheimer’s Website Shows Gains
December 23rd, 2009
With the help of Oppenheimer, at least one of Illinois’ “Bright Start” College Funds is in the gutter.
“Core Plus”, a supposedly conservative fixed income strategy was marketed to parents whose children were at or near college as a way to protect their investments. The strategy managed to lose 38% in 2008, resulting in a lawsuit and a subsequent settlement.
Related posts:
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- K1 Hedge Fund Said to Be Linked to FBI Money-Laundering Sting
- Hedge Fund Website Lawsuit
- Cuomo’s Money Manager Received Funds Linked to Pension Scandal
- Related topics: National Association of Insurance Commissioners (NAIC) Mortgage-backed bonds Money Management Institute (MMI) Ratings agencies under fire over residential-mortgage-backed securities
Posted in Implode