Foreman in Stoker Trial: Aim Higher Next Time, SEC
This is a discussion on Foreman in Stoker Trial: Aim Higher Next Time, SEC within the Law News forum, part of the FORUM INFORMATION category; The jury foreman in the SEC's crisis-era lawsuit against former Citi employee Brian Stoker explains what went wrong for the ...
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Aug 2nd, 2012, 09:40 AM
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Foreman in Stoker Trial: Aim Higher Next Time, SEC
The jury foreman in the SEC's crisis-era lawsuit against former Citi employee Brian Stoker explains what went wrong for the government.
First, the background: Mr. Stoker was a director at the bank responsible for creating complex financial products. The SEC said he should have disclosed to investors that the bank was betting against about half of the value of residential mortgages underlying a $1 billion mortgage-bond deal. The deal blew up when the housing market cratered. About $700 million vanished in a heartbeat. More... |
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