October 5, 2007
States Investigate State Street Bond Funds
Some state attorneys general are looking into possible law suits against State Street Corp. over losses their state retirement funds suffered investing in two "enhanced index" bond funds. Marketed as low-risk investments, the funds made aggressive bets on mortgage-backed securities and derivatives. Prudential Financial brought suit this week on similar allegations. WSJ, State Street Blues: Fund Woes Linger.
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