Results tagged “ARS” from Dealbreaker
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We Found An Abnormal Growth
Nov 21, 2008, 4:33pm
Posted by Equity Private
Sometimes (just sometimes) we cannot help but watch Andrew Ross Sorkin videos. This particular round, while watching the ARSE's Charlie Rose interview with automotive industry shill David Cole, something occurred to us: the United States has become the world's leading...
Goldman Not Kowtowing To Little Rich Boy Clients
Aug 14, 2008, 10:20am
Posted by Bess Levin
UBS, Citigroup, JPMorgan etc have agreed (or are close to agreeing) to buy back billions in auction rate securities from their clients. As these people are relative peons compared to the God-like creatures serviced by Goldman Sachs, a fact which...
All Banks But One To Say Sorry We Screwed You
Aug 13, 2008, 3:39pm
Posted by Bess Levin
Charlie Gasparino reports that at least three firms are expected to reach a "global settlement" today or tomorrow with everyone (all state and federal regulators, the SEC, etc) accusing them of taking investors for a ride re: auction rate...
UBS Will Pay $19.4 Billion To Avoid Cuomo Ass ReamingTM
Aug 08, 2008, 9:02am
Posted by Bess Levin
UBS will buy back bonds for $19.4b [Boston Globe]...
Credit Suisse Broker On The Lam?
Jul 31, 2008, 2:24pm
Posted by Bess Levin
Former Credit Suisse broker Julian Tzolov, under investigation for being a sheep and pushing auction rate securities, is thought to have fled to his native Bulgaria. (Suicide has been ruled out, faking one's own death apparently only be de rigeur...
F THAT. Now More Than Ever Is The Time To Ramp Up The Expenses, My Friend
Jul 31, 2008, 12:05pm
Posted by Bess Levin
Here's a copy of the formal complaint from the Massachusetts Secretary of the Commonwealth charging Merrill Lynch with fraud in pushing auction rate securities as sweet deals even though the dealers knew that wasn't exactly the case. We haven't slogged...
The Auction Failure: Wall Street Execs Feel The Pain
Feb 15, 2008, 8:33am
Posted by John Carney
Yesterday we pointed out that the freeze-up in auction-rate securities could lower demand for equities as many individual investors found their investment assets essentially locked into these suddenly illiquid bonds. But it's not just the clients of brokerages who are...
