In June of 2020, an appeals court struck down Wells Fargo's infamous STARS transaction—or structured trust advantaged repackaged securities. It was a complex financial exchange facilitated in 2002 between the bank and Barclays that was considered so byzantine the judge declared that it “defies comprehension.”
Disappearing Subsidiaries Were Part of Byzan…
In June of 2020, an appeals court struck down Wells Fargo's infamous STARS transaction—or structured trust advantaged repackaged securities. It was a complex financial exchange facilitated in 2002 between the bank and Barclays that was considered so byzantine the judge declared that it “defies comprehension.”
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