UBS to Customers – Buyer Beware

From the WSJ: UBS Cutting Value Of Auction-Rate Securities In Brokerage Accounts

UBS is the first of what will surely be many large banks to pass losses on Auction Rate Securities on to their customers. Of course these are the same customers who were told that these investments were as liquid and as safe as cash.

The Money Quote:

“Some Clients Will Face Losses on Paper Of More Than 20%”

We’re all Charlie Brown now

Charlie Brown and Lucy Kick Football

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s