Thomas Adams

Thomas Adams News

  • Faulty Foreclosure May Mean Massachusetts Buyer Isn’t Owner

    Massachusetts’ highest court will consider whether a home buyer can rightfully own a property if the bank that sold it to him didn’t have the right to foreclose on the original owner.

  • Morgan Stanley’s Doomed Baldwin CDOs Thwarted ‘Natural Process’

    In June 2006, a year before the subprime mortgage market collapsed, Morgan Stanley created a cluster of investments doomed to fail even if default rates stayed low -- then bet against its concoction.

  • Harvard's Former Quarterback Priore Now Faces SEC Fraud Suit

    Thomas Priore was about to play the biggest football game of his life. The Harvard University quarterback, who’d lost his starting job earlier in the season, was given a second chance and would take the field against rival Yale University.

  • Magnetar Says It Didn't Help Banks on Mortgage-Backed CDOs `Built to Fail'

    Magnetar Capital LLC, the $7 billion hedge-fund firm that profited in 2007 from wagers that subprime-housing debt would tumble, told investors it didn’t help banks create mortgage-linked investments “built to fail.”      The firm offered limited input on the selection of securities in the deals and made bets that would pay off if they soured, as part of a “market neutral” portfolio designed to profit no matter what happened, according to a letter to clients yesterday from Evanston

  • Goldman SEC Case May Hinge on Meaning of ‘Selected’

    The case against Goldman Sachs Group Inc. may turn on the meaning of the word “selected.”

  • SEC Cited Magnetar CDOs on Disclosures, Goldman Says

    Two mortgage-linked investments tied to hedge-fund firm Magnetar Capital LLC had better disclosures about conflicts of interest than a Goldman Sachs Group Inc. transaction, Securities and Exchange Commission staff told the bank’s lawyers in a meeting.


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