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First customer lawsuit against CSFB over XIV was filed.
- Thread starter ajacobson
- Start date
What does it say? It can default under unfavourable market conditions? There is still price to pay for that.
Read about it and find out.
Confusing fairness with a court. The complaints are going to plaster CSFB and Barclays along with the brokerage houses and exchanges. No one is ever going to be suitable to lose 100% of their account.
Then maybe those products are not suitable for them to trade in the first place. It's their fault for not assessing their risk tolerance level and gamble away their money.
The product was not even suitable for CSFB. Got rid of it in a moment. LOL!Then maybe those products are not suitable for them to trade in the first place. It's their fault for not assessing their risk tolerance level and gamble away their money.
The product was not even suitable for CSFB. Got rid of it in a moment. LOL!
CSFB did not get rid of those products. Again, read the prospectus to find out what happened to XIV. If you don't understand the prospectus or don't want to read it, don't post a comment here; you'll just end up looking like a fool.
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Actions tell me the story louder than words. Where is it now? Can't find it anywhere. But I am sure you never traded it. So why do you care?CSFB did not get rid of those products. Again, read the prospectus to find out what happened to XIV. If you don't understand the prospectus or don't want to read it, don't post a comment here; you'll just end up looking like a fool.
Any securities can blow up the market really as we saw in the financial crisis 2008 and it was just mortgages. And what happened on Feb. 5 is hardly a "blow up"; the S&P only dropped 1% LOL and it was NOT caused by the VIX products.
These lawsuit is just ignorant idiots who's pissed cuz they lost some money due to them not reading and understanding what they read and still went ahead and gambled their money anyway. Now they are crying wolf because they can't get the money back cuz the fund is terminated. There are other funds there that they can still trade to get their money back? No, they choose to rather waste their money on lawyers and waste the taxpayers' resources on the judiciary system that really has nothing better to do other than listening to a bunch of whining crybabies. LOL
You made my point... 2008 was caused by regulators and politicians forcing banks to finance high risk customers with overpriced real estate collateral. XIV is a poorly conceived product and deserves to die.
You made my point... 2008 was caused by regulators and politicians forcing banks to finance high risk customers with overpriced real estate collateral. XIV is a poorly conceived product and deserves to die.
You don't even know what XIV product is. LOL Ok you are just a pathetic troll like the whole sleuth of them plaguing ET lately. Putting you on Ignore.
For the record, regulators and politicians NEVER forced anything on the banks. It's the banks who CHOSE to underwrite fraudulent mortgages without regards to risks and lost everything that's NOT regulators and politicians' problem. Again with VIX products, NOBODY forced anything on anybody. You are NOT forced to buy or sell any VIX products. People CHOSE out of their own free will to invest or short sell VIX products without understanding the products and lost money, that's not anybody but those reckless investors' problem. The only difference is when big banks f*** up, the government bails them out. When those investors f*** up, nobody gives a s*** and now they expect the underwriters of the VIX products to bail them out through courts? Tough luck!!
At the end, they would wish they've never listened to those vulture lawyers. LOL
At the end, they would wish they've never listened to those vulture lawyers. LOL
For the record, regulators and politicians NEVER forced anything on the banks. It's the banks who CHOSE to underwrite fraudulent mortgages without regards to risks and lost everything that's NOT regulators and politicians' problem.
Horseshit... There are quotes from Barney Frank touting the safety of mortgage backed securities right before they exploded.
http://archive.boston.com/news/poli...14/frank_haunted_by_stance_on_fannie_freddie/
Your govt. wanted to loosen the credit requirements to make more money available to the 99 percenters. Anybody with a pulse could get a loan in 2003 thru 2006.
http://www.businessinsider.com/how-the-government-caused-the-mortgage-crisis-2009-10
You should educate yourself just a little before ranting on a subject.[/QUOTE]