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07-24-2008, 10:07 AM
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#1 |
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Outside looking in.
Industry Role:
Join Date: Feb 2005
Location: To Hell You Ride
Posts: 14,243
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New York State Sues Swiss Banking Giant UBS!!!
NEW YORK (MarketWatch) -- New York Attorney General Andrew Cuomo on Thursday filed a lawsuit against Swiss banking giant UBS (UBS:21.41, -1.19, -5.3%) , alleging that the firm deceived investors in auction rate securities by telling clients the investments were cash equivalents. He also claimed senior executives at the firm divested themselves of $21 million of auction rate securities as the market collapsed, but they continued to encourage customers to buy them. Cuomo released transcripts of subpoenaed emails that he said backed up the charges. "Not only is UBS guilty of committing a flagrant breach of trust between the bank and its customers, its top executives jumped ship as soon the securities market started to collapse, leaving thousands of customers holding the bag," Cuomo said in a press release.
http://www.marketwatch.com/news/stor...7D&siteid=bnbh
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07-24-2008, 10:08 AM
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#2 |
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Confirmed User
Join Date: Mar 2004
Location: Richmond, va
Posts: 588
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McCain's buddy Phil Gramm....
is all up in UBS as a "consultant" and lobbiest
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https://www.niteflirt.com/pid/12631704 |
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07-24-2008, 11:08 AM
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#3 |
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<&(©¿©)&>
Industry Role:
Join Date: Jul 2002
Location: Chicago
Posts: 47,882
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wow, took them a while, didn't the whole "auction rate securities" collapse happen last year?
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Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager  Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager |
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07-24-2008, 11:33 AM
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#4 | ||
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Confirmed User
Industry Role:
Join Date: Mar 2008
Location: Miami
Posts: 5,527
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Quote:
More on Phil... Quote:
http://www.bloggingstocks.com/2008/0...tion-of-whine/
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07-24-2008, 11:58 AM
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#5 |
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ICQ: 197-556-237
Join Date: Jun 2003
Location: BRASIL !!!
Posts: 57,559
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Ok then.........
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I'm just a newbie. |
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07-24-2008, 12:00 PM
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#6 |
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Confirmed User
Industry Role:
Join Date: Aug 2003
Location: Charleston, SC
Posts: 2,468
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SHIT, i have a bunch of that stock.. haven't looked at it in a while....
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http://www.3dsex.com |
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07-24-2008, 01:31 PM
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#7 |
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A freakin' legend!
Industry Role:
Join Date: Feb 2004
Location: Las Vegas, Nevada USA
Posts: 18,975
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In Rhode Island, UBS had a VP there named Senator Stephen Alves, who was involved in many shady deals.
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