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Morgan Stanley sued over a product 'designed to fail',,,,, They learn that from the squid??? LOL

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Wed, 08 Aug 12 6:43 PM | 43 view(s)
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By: malterwitty
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ECONOMY

Morgan Stanley is being sued by Singapore investment company Hong Leong Finance over claims it sold financial products that were "designed to fail".

The products were called Pinnacle Notes and were a version of collateralised debt obligations (CDO).

CDOs were at the centre of the 2008 financial crisis which rocked Wall Street and global markets.

Hong Leong Finance had to pay its clients more than $32m (£20m) to cover losses linked to the Pinnacle Notes.

http://www.bbc.co.uk/news/business-19159929




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