Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Mizuho Financial Likely To Face Civil Charges In CDO Case: WSJ

7/12/2012 3:22 AM ET

The U.S. Securities and Exchange Commission plans to file charges against firms and people involved in the creation of a $1.6 billion mortgage-bond deal called Delphinus CDO 2007-1, the Wall Street Journal reported citing people close to the investigation. Mizuho Financial Group Inc. (MFG: Quote) and former employee Alexander Rekeda are likely to face civil charges, the report said.

Mizuho Financial underwrote and sold the mortgage-bond deal, while Rekeda assembled it, the report added.

Click here to receive FREE breaking news email alerts for Mizuho Financial Group and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
There was a mixed performance on Wall Street on Friday. Shares suffered an early decline, as investors continued to express worries about the Federal Reserve. A recovery through the rest of the day allowed the Dow to edge into positive territory by the close. The Nasdaq and S&P 500 posted fractional losses. Stocks have shown a notable move to the downside in early trading on Friday amid lingering concerns about the outlook for the Federal Reserve's asset purchase program. The major averages have slid firmly into negative territory, adding to the modest losses posted in the previous session. The major averages are currently posting notable losses, near their lows for the young session. After reporting a sharp drop in new orders for manufactured durable goods in the previous month, the Commerce Department released a report on Friday showing that durable goods orders rebounded by more than anticipated in the month of April. The report said durable goods orders surged up by 3.3 percent in April after tumbling by a revised 5.9 percent in March.
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.