Recent Event Highlights: Aviva, UBS increase BP stake: Reuters Insider - Reuters, Here Comes the US Housing Market Double Dip - The Market Oracle, Cowen Launches Credit Fixed Income Group - PR Newswire (press release), News Update: BP Plc Exploring Debt Financing Alternatives; Bank Loans or Bond Offerings, A look at global economic developments - The Associated Press, JPMorgan Buys $125 Million in Lehman Claims From Fund - BusinessWeek, and 31 more...
Created by dipity on Jun 8, 2009
Last updated: 11/02/10 at 06:00 PM
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Aviva, UBS increase BP stake: Reuters InsiderReutersAviva Investors and UBS Asset Management increased their ownership of BP in the wake of the explosion in April and sinking of the Deepwater Horizon, ...and more »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.reuters.com%2Farticle%2FidUSTRE65M3TV20100623&usg=AFQjCNGOcTOzszhhKuaF2Dmmoswa-Tkq0g
Here Comes the US Housing Market Double DipThe Market OracleHarrisburg, the capital of Pennsylvania, is considering a municipal bankruptcy filing...." When banks start dumping foreclosed homes at fire-sale prices, ...and more »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.marketoracle.co.uk%2FArticle20513.html&usg=AFQjCNG7_CWGn-gkwc112WYtaiP_bR0YFQ
Cowen Launches Credit Fixed Income GroupPR Newswire (press release)Prior to joining Gleacher & Company, Mr. Reynolds spent 12 years at UBS in a number of senior roles, including Co-Head of Corporate Recapitalizations and ...and more »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcowen-launches-credit-fixed-income-group-96885719.html&usg=AFQjCNHIraaIpiGCtH8eU11v8D3VyLxtmg
According to regulatory filings, Goldman Sachs sold 4680822 shares of BP in the first quarter of 2010. Goldman's sales were the largest of any firm during that time. Goldman would have pocketed slightly more than $266 million if their holdings were sold at the average price of BP's stock during the quarter. If Goldman had sold these shares today, their investment would have lost 36 percent its value, or $96 million. The share sales represented 44 percent of Goldman's holdings — meaning that Goldman's remaining holdings have still lost tens of millions in value. The sale and its size itself isn't unusual for a large asset management firm. Wall Street brokerages routinely buy and sell huge blocks of shares for themselves and their clients. In light of a recent SEC lawsuit arguing that Goldman kept information about a product they sold from their clients, however, the stock sale may raise fresh concern among Goldman's critics. Goldman is also a frequent target of liberals and journalists, including Rolling Stone's Matt Taibi, who famously dubbed the firm a "vampire squid." Two calls placed to Goldman Sachs' media office in New York Wednesday morning after US markets opened were not immediately returned, though Raw Story decided to publish the story quickly after the calls since the stock sale had been already noted online. Others also sold stock Other asset management firms also sold huge blocks of BP stock in the first quarter — but their sales were a fraction of Goldman's ...
Goldman dumps 44% of its BP investment 3 weeks before the Deepwater Horizon Sank ..... Firm's stock sale nearly twice as large as any other institution; Represented 44 percent of total BP investment The brokerage firm that's faced the most scrutiny from regulators in the past year over the shorting of mortgage related securities seems to have had good timing when it came to something else: the stock of British oil giant BP. According to regulatory filings, RawStory.com has found that Goldman Sachs sold 4680822 shares of BP in the first quarter of 2010. Goldman's sales were the largest of any firm during that time. Goldman would have pocketed slightly more than $266 million if their holdings were sold at the average price of BP's stock during the quarter. If Goldman had sold these shares today, their investment would have lost 36 percent its value, or $96 million. The share sales represented 44 percent of Goldman's holdings — meaning that Goldman's remaining holdings have still lost tens of millions in value. The sale and its size itself isn't unusual for a large asset management firm. Wall Street brokerages routinely buy and sell huge blocks of shares for themselves and their clients. In light of a recent SEC lawsuit arguing that Goldman kept information about a product they sold from their clients, however, the stock sale may raise fresh concern among Goldman's critics. Goldman is also a frequent target of liberals and journalists, including Rolling Stone's Matt Taibi ...
BP Plc (NYSE:BP) is reportedly planning to raise $5 billion to $10 billion dollars starting as early as next week, as the company considers debt financing alternatives including bank loans or bond offerings to pay victims affected by the Gulf of Mexico oil spill. A Reuters report from today says that Goldman Sachs Group, Inc. (NYSE:GS), Morgan Stanley (NYSE:MS), Credit Suisse Group AG (NYSE:CS), UBS AG (NYSE:UBS), and The Blackstone Group LP (NYSE:BX) are all advisory firms to BP, and are rumored to potentially help finance a deal. BP is also reportedly considering corporate bond sale of up to $10 billion, however, an exact plan for the potential offering has not been finalized. "Demand for any bond would depend on the specifics of the deal, including whether he debt is backed by BP's assets," Knight Libertas senior analyst Vivek Pal told Reuters, adding, "Investors would demand a large level of protection; no one wants to step in front of an open-ended liability claim." Founder of New York-based Covenant Review, Adam Cohen, also commented: "For shareholders, it means BP is going to be paying more interest each year and shareholders are going to be even further back in the pecking order for their share of BP's cash flow. On the other hand, a successful bond deal will signal confidence in BP and mean that even more investors - new bondholders - are committed to seeing BP survive - it makes bankruptcy more politically unpalatable." Shares of BP are trading up 0.69% Friday ...
CBC.caA look at global economic developmentsThe Associated PressThe country's biggest bank, UBS AG, will divulge the names of 4450 American clients suspected of tax evasion to US authorities. The agreement secured final ...Swiss MPs back UBS-US tax dealBBC Newsall 986 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.google.com%2Fhostednews%2Fap%2Farticle%2FALeqM5hfp1EtmOyKExnSRQ_Z2VXICsKnigD9GD7EU80&usg=AFQjCNGQIA-2L3BFY8bhjfgBA4sCNRFnUQ
FOXBusinessBP Looking to Protect Itself By Hiring More BanksFOXBusiness... Suisse estimates it might cost the company nearly $40 billion—has raised the possibility that the firm might have to file for bankruptcy protection. ...and more »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.foxbusiness.com%2Fstory%2Fmarkets%2Fbp-looking-protect-hiring-banks%2F&usg=AFQjCNEXgKGbO83QsRBSnRTraieCDRwoTQ
JPMorgan Buys $125 Million in Lehman Claims From FundBusinessWeekLehman filed the biggest US bankruptcy in history with assets of $639 billion. Its creditors include UBS AG, the New York Giants and Abu Dhabi Investment ...and more »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.businessweek.com%2Fnews%2F2010-06-11%2Fjpmorgan-buys-125-million-in-lehman-claims-from-fund-update1-.html&usg=AFQjCNGD13JX8PsIW_zaMi00JVQ8Oa6tUg
Crescent Resources Emerges From Chapter 11 Less $1B In DebtWall Street JournalCrescent has secured $150 million in bankruptcy-exit financing from a group of lenders led by UBS AG (UBS) and Aladdin Capital. The loan will refinance the ...and more »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FBT-CO-20100611-709008.html%3Fmod%3DWSJ_World_MIDDLEHeadlinesEurope&usg=AFQjCNHo7UiW4k5yotqUGMEjJ29cQyxuAg
TheStreet.comLehman Brothers estate sues JPMorgan ChaseNews Channel 8NEW YORK (AP) - The estate of Lehman Brothers Holdings Inc. claims that JPMorgan Chase & Co. helped drive Lehman into bankruptcy by forcing it to give up ...Lehman Brothers Sues JPMorgan Chase & Co. (NYSE: JPM)American Banking NewsLehman Brothers Holdings Inc. files complaint against JPMorgan Chase Bank, N.A.Lexology (registration)Lehman Sues JP Morgan In Collateral CaseEmii.comall 33 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.news8.net%2Fnews%2Fstories%2F0610%2F741841.html&usg=AFQjCNHrFRhjmvLBChOqdrrKslr256Oz2Q
Epiq Systems to Present at the UBS Global Technology and Services Conference ...MarketWatch (press release)Our solutions streamline the administration of bankruptcy, litigation, financial transactions and regulatory compliance matters. ...and more »
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Credit Suisse, UBS May Provide Refuge From Europe's Debt StormBusinessWeekTo be sure, a credit crunch like the one that followed the bankruptcy of Lehman Brothers Holdings Inc. in September 2008 would leave no banks unscathed, ...and more »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.businessweek.com%2Fnews%2F2010-05-27%2Fcredit-suisse-ubs-may-provide-refuge-from-europe-s-debt-storm.html&usg=AFQjCNEcOFbihOZH0m9F3FHFmMJi05D-Cg
ondellBasell Industries AF has reached a deal with a group of banks, including Citigroup and UBS AG, that could settle a massive lawsuit in its bankruptcy case but that still leaves key players in the lawsuit facing claims.
www.weforum.org 27.01.2010 In 2009, the G20 tasked the Financial Stability Board (FSB) and the Basel Committee on Banking Supervision to develop "macro-prudential tools" to combat systemic risk. What structural deficiencies still persist in the regulation of systemic financial risk and how will they be addressed in 2010? Jaime Caruana, General Manager, Bank for International Settlements (BIS), Basel Ibrahim S. Dabdoub, Group Chief Executive Officer, National Bank of Kuwait, Kuwait; Global Agenda Council on Global Investment Flows Robert E. Diamond Jr, President, Barclays, United Kingdom Stefan Lippe, Chief Executive Officer, Swiss Re, Switzerland Jonathan M. Nelson, Chief Executive Officer, Providence Equity Partners, USA Guillermo Ortiz, Professor, ITAM (Instituto Tecnologico Autonomo de Mexico), Mexico Moderated by Suzanne Nora Johnson, Chair, Global Agenda Council on Systemic Financial Risk; Global Agenda Council on Systemic Financial Risk
Is the secret Swiss bank account dead? Tax lawyer Philippe DioGuardi discusses Switzerland's decision to release the names of UBS Swiss bank account holders to the US and Canadian tax authorities.
Brandweek MagazineAuto Ads Are Primed to Kick Into GearBrandweek Magazine, NYIn another car-focused report Wednesday, UBS analyst Michael Morris argued that dealership closures will have less impact on major media companies. GM and Chrysler have stated on several occasions that their closures will focus on smaller, ...
http://www.brandweek.com/bw/content_display/news-and-features/direct/e3i573ed7d4bca6f9fc85fb07a1d57faa3c
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...deteriorated rapidly from Sept. 10, 2008, when his UBS' broker advised him to hold on to the currency basket and Sept. 15, 2008, when Lehman declared bankruptcy. A hearing in the case is scheduled for July 3 in Merrimack Superior Court, Rufo said. ...
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The Union Leader
http://www.unionleader.com/rssarticle.aspx?articleId=651045ca-c7e4-4044-b8bb-648c01c36715
Globe and MailLoonie's rise mixed blessing for bailoutsGlobe and Mail, CanadaThe company said Tuesday that it expects to achieve a market share of 18 per cent, despite closing 40 per cent of its North American dealers, eliminating key brands and spending two to three months under court-supervised bankruptcy protection. ...
http://www.theglobeandmail.com/report-on-business/loonies-rise-mixed-blessing-for-bailouts/article1165748/
Washington PostMeet the Men Who Are Being Handed the KeysWashington Post, United StatesHe is also vice chairman of UBS. C. Robert Kidder, 64, will be Chrysler's chairman. Kidder, the former chairman and chief executive of Borden Chemical and Duracell International, is one of four Chrysler board members named by the Treasury. ...
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/02/AR2009060203746.html
Interactive InvestorPound hits 7-month high vs dollarInteractive Investor, UK"Today's PMI reading adds to the growing body of evidence that the pace of contraction in the UK is slowing, even raising the possibility that the UK may be one of the first large economies to emerge from the crisis," said analysts at UBS. ...
http://www.iii.co.uk/news/?type=reutersnews&articleid=TRE5503VE&feed=Bus&action=article
Javno.hrEuropean Shares Open Higher; Eyes On US DataJavno.hr, CroatiaUBS reversed its regional preferences between the United States and Europe, upgrading European equities to "overweight" from "underweight" and downgrading US shares to "underweight" from "overweight. "At the same time that valuations gap has widened, ...
http://www.javno.com/en-economy/european-shares-open-higher-eyes-on-us-data_262168
Calcutta TelegraphRussia, Germany unite to save OpelCalcutta Telegraph, India“It solves nothing in terms of the industry's structure,” said Philippe Houchois, an analyst with UBS in London. “It'll be detrimental to the whole industry's pricing ability, and not much good will come out of this.” Losing Opel to Magna would be a ...In Opel Talks, a High-Stakes Game of Poker New York Times Blogsall 5,235 news articles
http://www.telegraphindia.com/1090531/jsp/foreign/story_11043190.jsp
Internatioonal Financial Law ReviewHedge funds have taken controlInternatioonal Financial Law Review, UKLyondell Chemical's $8 billion roll-up Dip loan this year, with 14 hedge funds and UBS, is the largest Dip loan ever approved. A $6.5 billion section of the loan includes $3.25 billion in new money and a $3.25 billion roll-up of a portion of Lyondell's ...
http://www.iflr.com/Article/2212010/Hedge-funds-have-taken-control.html
Javno.hrEuropean Shares End Higher for 3rd DayJavno.hr, CroatiaBanks added most points to the index, with HSBC rising 2 percent, Societe Generale up 1.8 percent, Credit Agricole advancing 3 percent and UBS gaining 1.7 percent. "There is an increase in optimism in terms of some of the economic indicators that we ...
http://www.javno.com/en-economy/european-shares-end-higher-for-3rd-day_260979
MiamiHerald.comCAW votes to accept cost-cutting deal with GMMiamiHerald.com, FLLewenza said there is little doubt that GM will file for bankruptcy in the United States and said there's a real possibility it will do so in Canada. "The integrity of our collective agreement will be protected," Lewenza said. ...
http://www.miamiherald.com/news/world/AP/story/1064596.html
Examiner.comToyota rise and fall within six monthsExaminer.comToyota's capacity in Japan grew from 3.73 million units in 2001 to 4.32 million last year, says Ta-tsuo Yoshida, an auto analyst at UBS Investment Research. Industrywide sales in Japan have fallen for years so all of the extra capacity was exported. ...
http://www.examiner.com/x-6637-Baltimore-Autos-Examiner~y2009m5d21-Toyota-rise-and-fall-within-six-months
CharlotteObserver.comGM notifies dealerships that some will closeCharlotteObserver.com, NCThat number could be a little high, according to Jim O'Sullivan, an economist at UBS. He said that bulk of the job losses among auto dealer workers have already occurred and that not all of the dealership employees will lose their jobs. ...
http://www.charlotteobserver.com/business/story/727133.html
HedgeWeekAkin Gump adds UBS lawyer to London funds practiceHedgeWeek, UKDavid Billings (pictured), a partner in the firm's investment funds and private equity practice group in London, says: 'The prime brokerage landscape is undergoing a fundamental transformation in the wake of the Lehman bankruptcy and the wider ...
http://www.hedgeweek.com/articles/detail.jsp?content_id=330774
ReutersGlobal stocks up as optimism outweighs gloom; oil downReutersBut it's here because it's taking the view that there's a recovery out there," Lenhoff said. UBS (UBSN.VX) shares rose 4 percent on reports the Swiss government is seeking a quick exit from its investment in the country's biggest bank. Continued...
http://www.reuters.com/article/hotStocksNews/idUSTRE54B01U20090514
they feel better about their jobs or the economy, while 36.2 per cent say they are cutting back because of debts and overdue bills, and 7.7 per cent say they are spending less as a result of gas and heating costs. More than a quarter of consumers, 26.7 per cent, say they are buying items only when they have been discounted by 50 per cent. Beemer said the survey found appliance, electronic, home improvement and department stores noted slight increases in shopping levels in April, which he ...
making noises about backing alternative to dollar as world's reserve currency o UK openly monetizing its national debt o Swiss bank UBS first says it will identify US depositors, then backs off under threat of lawsuits o Price of firearm ammunition is rising, and its becoming scarce o Channeling of bailout money to banking elite continues unabated o California all but bankrupt, housing median price off 40% from this time last year o Multi trillion dollar US budget deficits are in the pipeline ...
The Punch List Unfiltered, Unscripted, Unshaven. Our world today in about a minute. News, Commentary, Hangover www.punchnetwork.com Today's List * Senate ethics panel probe of Burris under way - Am I the only one who thinks it's ridiculous to use Senate and Ethics in the same sentence? * NKorea says it's prepared for war with SKorea - I don't mean to be pedantic, but technically you still are at war from the 1950's * Trump Casino Group Files for Bankruptcy - hand gesture... * Martial Arts Expert Challenges Chris Brown to a Fight - This sounds like a pitch for The Last Dragon Sequel. I'd definitely order it on Pay Per View. * California Senate prepares to vote on plan to end fiscal crisis - you mean, you can just vote a crisis away? I don't think it really works that way. * US seeks to improve image in Muslim Indonesia - considers banning lonely white dudes from creeping on hot young Indonesian girls. It's a start... * UBS admits defrauding US in tax-haven case, will pay $780 million - Who is gonna screw the IRS? You & Us, UBS. * Playboy posts steep loss, will consider company sale - there are times I really wish I had some extra cash lying around. Mmmmm The Playboy Mansion. Join www.spokeup.com Let's Be Heard!!! www.facebook.com www.twitter.com www.youtube.com Join SpokeUp.com - Because Your Vote Still Has a Voice!
think it really works that way. * US seeks to improve image in Muslim Indonesia - considers banning lonely white dudes from creeping on hot young Indonesian girls. It's a start... * UBS admits defrauding US in tax-haven case, will pay $780 million - Who is gonna screw the IRS? You & Us, UBS. * Playboy posts steep loss, will consider company sale - there are times I really wish I had some extra cash lying around. Mmmmm The Playboy Mansion. Join www.spokeup.com Let's Be Heard!!! www.facebook.com ...
($9.7 trillion) US Taxpayers Risk $9.7 Trillion on Bailouts as Senate Votes -enough to pay off 90% of America's mortages -$1430 check to every citizen -in the last two years, The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation have spent or lent out $3 trillion -going to spend another $5.7 trillion www.bloomberg.com KV Pharma to cut 700 jobs -As of Mar. 31, 2008, it employed 1590 employees www.reuters.com Whirlpool Quarterly Profit Falls 76% -Quarterly sales fell 19 percent www.cnbc.com McDonald's Same-Store Sales Up 7.1% in January -not a surprise, people are on a budget www.cnbc.com Nissan to Cut 20000 Jobs as Carmaker Forecasts Loss -Japans third- largest automaker -net loss of 265 billion for fiscal year ending on March 31 www.bloomberg.com GM, Chrysler May Be Put Into Bankruptcy to Protect US Loans -Citigroup Inc., JPMorgan Chase & Co. and Goldman are top pripority creditors (They'll get their money first) -Federal gov. is trying to move to the top of the list -may force GM and Chrysler into bankruptcy to get what they want. www.bloomberg.com Recession limits Americans' ability to find work by moving -people can't sell their homes -people can't find jobs in other states *difficult for me to leave Michigan www.usatoday.com Swiss banks to announce massive losses: report Two of Switzerland's largest banks, UBS and Credit Suisse will anounce that combined losses for 2008 will be 29 billion Swiss francs www.breitbart.com
Protect US Loans -Citigroup Inc., JPMorgan Chase & Co. and Goldman are top pripority creditors (They'll get their money first) -Federal gov. is trying to move to the top of the list -may force GM and Chrysler into bankruptcy to get what they want. www.bloomberg.com Recession limits Americans' ability to find work by moving -people can't sell their homes -people can't find jobs in other states *difficult for me to leave Michigan www.usatoday.com Swiss banks to announce massive losses: report ...
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...UBS split off the investment bank and refocus on money management, a steady and lucrative business. In recent weeks, all of UBS's rivals have been swept up in the worsening storm. Lehman Brothers Holdings Inc collapsed into bankruptcy protection, while Merrill...
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Times of India
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http://economictimes.indiatimes.com/News/UBS_sees_united_bank_as_best_model/rssarticleshow/3564614.cms
shouldnt be a field day. We shouldnt have people lining up to get in. Thats telling us that this is not a serious bailout. So the idea that the administration is proposing is that the people who were engaged in incredibly reckless behavior, who made out like bandits, getting tens of millions of dollars in salary and compensation over the last few years are now going to get this $700 billion blank check from the American taxpayer. Its just unbelievable. Well, weve been knowing since six years. ...
, you know, we have to come to the rescue, it is because of their incompetence, because people who understood the economy were warning about this a long, long time ago. This was a totally predictable event that brought us here. For years now, theyve told us that we cant afford—that the government providing healthcare to all people is just unimaginable; it cant be done. We dont have the money to rebuild our infrastructure. We dont have the money to wipe out poverty. We cant do it. But all of a ...
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...Laurent, 09.15.08, 9:10 AM ET LONDON - As Wall Street icon Lehman Brothers collapsed into bankruptcy Monday, Swiss bank UBS reportedly faced around $5 billion in extra write-downs on dodgy mortgage assets. But even though UBS has been one of the worst...
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Forbes
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http://www.forbes.com/markets/2008/09/15/ubs-lehman-banks-markets-equity-cx_ll_0915markets10.html?feed=rss_markets
Lambert, fallimento avvenuto nel 1990. Lehman Brothers è inoltre debitrice di qualche cosa come oltre 157 miliardi di dollari nei confronti di una decina di creditori non privilegiati e nei riguardi degli obbligazionisti. In questo caso - sottolinea l' Agenzia Bloomberg - questi debiti potranno essere saldati solo dopo che saranno stati rimborsati i creditori privilegiati. La stessa Lehman ha precisato che fra i creditori non privilegiati figurano Commerzbank e Bank of New York Mellon, per il ...
www.netvibes.com ... Lehman Lheman Brothers bank bankruptcy hits European stocks Merrill Lynch rescue sale drama financial system trading investment institutions subprime home-loan market money 70 billion dollars global emergency fund insurance giant AIG loan disaster Federal Reserve breakdowns customers subsidiary Neuberger Berman Holdings LLC trade action Barclays America firm company Citibank Credit Suisse Deutsche Goldman Sachs JPMorgan Chase Morgan Stanley UBS collateral Wall Street Bernard ...
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...for bankruptcy protection dragged down financial sector stocks worldwide. Without quoting sources, Swiss paper Sonntags Zeitung said UBS , Europe's hardest hit bank in the financial market turmoil, would have to write down another $5 billion on its risky investments...
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Earthtimes.org
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http://www.earthtimes.org/articles/show/231814,ubs-shares-hit-by-speculation-of-new-writedowns.html
"INSIGHT" Detail from "NEXT_" art by Jim Byrne J23yrne Alice works at an investment firm on Wall Street in New York City, it is like a smarter Hedgefund and a faster bank. She does business with Goldman Leman, Citi Bank Bear Sterns WAMO washington mutual UBS america Alice sees something on her computer. She creates an Insight. She understands the economy in a new way. She begins to make a drawing of how the economy works.
smarter Hedgefund and a faster bank. She does business with Goldman Leman, Citi Bank Bear Sterns WAMO washington mutual UBS america Alice sees something on her computer. She creates an Insight. She understands the economy in a new way. She begins to make a drawing of how the economy works. ... insight J23 ALICE SUNDERLAND HEDGE hedge hedge-fund Lehman Brothers file for Chapter 11 bankruptcy Bloomberg terminal NYC thestreet j23yrne NEXT_ next- work "INSIGHT" Detail from "NEXT_" art by Jim Byrne ...
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...UBS, saying: "It's up to the bank to deal with its problems. Not the state!" He said that bankruptcy was not on the cards for UBS, and even if it were, "the issue was not saving a bank, but the functioning of the financial system and the Swiss economy in general." He...
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Channel News Asia
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http://www.channelnewsasia.com/stories/afp_world_business/view/338879/1/.html
Excerpt
...December 2001 amid an accounting scandal in which it hid billions of dollars of debt. It emerged from bankruptcy in November 2004. UBS said in a statement it had provisioned funds for a possible settlement in the case and that the agreement would not materially...
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The Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2007/06/06/AR2007060602063.html?nav=rss_business/industries
Excerpt
...millions of dollars from mortgage payments made on loans owned by the investment firm. In the 14-page filing with the U.S. Bankruptcy Court for the District of Delaware, UBS claims New Century breached the terms of a contract that called for the subprime lender...
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Monterey County Herald
http://www.montereyherald.com/mld/montereyherald/business/17037241.htm?source=rss&channel=montereyherald_business
Excerpt
...in investment banking, including high-profile stints at Drexel Burnham Lambert, which he left in 1990 after the firm filed for bankruptcy, and Donaldson, Lufkin & Jenrette, where he ran the Los Angeles office. But Moelis has had frequent confrontations with...
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International Herald Tribune
http://www.iht.com/articles/2007/03/15/business/ubs.php
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