By: malterwitty
Tags:
ASIA
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

Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.