HONG KONG AP – Hong Kong legislators questioned Monday if a settlement deal returns enough money to investors who bought $1.8 billion in failed Lehman Brothers-backed derivatives and whether it punishes the banks that sold them.
The investors – some of them retirees – were outraged when Lehman collapsed in September, staging protests and accusing banks of peddling risky financial products without explaining them properly. The Lehman-backed products were labeled “mini-bonds,” giving the impression of a safe, conservative investment.
