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Loan Modification
: Mortgage Lender Implode-o-MeterOppenheimer's College Fund Loses 38% Using Borrowed Money To Buy Mortgage-Linked Securities; Amazingly Oppenheimer's Website Shows Gains
By Implode-Explode Heavy Industries
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.
Full post as published by Mortgage Lender Implode-o-Meter on December 23, 2009 (boomark / email).
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