{"id":4469,"date":"2007-06-24T21:40:35","date_gmt":"2007-06-24T21:40:35","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/06\/brookstreet_liquidating_portfo"},"modified":"2021-09-20T15:41:35","modified_gmt":"2021-09-20T20:41:35","slug":"brookstreet-liquidating-portfo","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/brookstreet-liquidating-portfo\/","title":{"rendered":"Brookstreet Liquidates Portfolio after Margin Calls by Fidelity Unit"},"content":{"rendered":"

\t\t\t\tBrookstreet Securities Corp. has liquidated securities following margin calls by National Fidelity Securities (NFS), a division of Fidelity Investments.<\/p>\n

Earlier in the week, it was reported on this blog that Brookstreet informed its agents in an E-mail that “disaster” had struck the firm. NFS had marked down the value of collateralized mortgage obligations (CMOs) that the firm and its clients held and that the firm would likely fail without an infusion of capital. A copy of that E-mail can be found in an earlier Blog story. <\/p>\n

Because of the markdowns of the CMOs, margin calls were issued leading to a liquidity crunch, according to a Brookstreet trader. When the margin calls were not satisfied, the securities were liquidated. On Friday, the firm announced that it had closed for business.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Brookstreet Securities Corp. has liquidated securities following margin calls by National Fidelity Securities (NFS), a division of Fidelity Investments. Earlier in the week, it was reported on this blog that Brookstreet informed its agents in an E-mail that “disaster” had struck the firm. NFS had marked down the value of collateralized mortgage obligations (CMOs) that […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3832],"tags":[],"class_list":["post-4469","post","type-post","status-publish","format-standard","hentry","category-brookstreet"],"yoast_head":"\nBrookstreet Liquidates Portfolio after Margin Calls by Fidelity Unit — Investor Lawyers Blog — June 24, 2007<\/title>\n<meta name=\"description\" content=\"Brookstreet Securities Corp. has liquidated securities following margin calls by National Fidelity Securities (NFS), a division of Fidelity Investments. — June 24, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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