Consumer Advocate Ralph Nader Calls for SEC Investigation of Pete Peterson, Blackstone and BlackRock

FOR IMMEDIATE RELEASE:



On behalf of Ralph Nader, the Mayer Law Group today asked the SEC to

open an investigation and/or enforcement action regarding actions by

Peter Peterson, BlackRock and Blackstone.



The Mayer Law Group submitted evidence that Peterson, Blackstone and

BlackRock sold to investors, including Mr. Nader, the Blackstone North

America Income and Opportunity Fund ("BNA Trust") which was falsely

presented to the public as a safe and secure fund investing in

government securities when in fact the fund held risky and volatile

derivative instruments.



In the complaint to the SEC, Mr. Mayer, on behalf of Mr. Nader said,

"These transactions and fraudulent misrepresentations took place years

ago, in the 1990s, but we are bringing this matter to the attention of

the Commission now because we believe that this is one of the earliest,

if not the earliest example, of Wall Street firms deceiving investors

and regulators by disguising ultra-risky investment products as safe

government-backed securities."



A full copy of the letter is available here: seccomplaint.pdf