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UBS Whopped By Fire Sale Talk

UBS Whopped By Fire Sale Talk

MarketWatch   |  Steve Goldstein   |   March 6, 2008 08:14 AM

Read More: Allianz, Alt-A Security, Jpmorgan, Pimco, Ubs, Breaking Business News
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UBS may have sold a portfolio of Alt-A securities worth 25 billion Swiss francs ($24.1 billion), according to an analyst at J.P. Morgan.

UBS was "highly likely" to have sold the securities in a fire sale, according to J.P. Morgan analyst Kian Abouhossein, noting press speculation on the subject.

"We see the speculated level of 70 cents on the dollar as realistic in a fire sale," he said in a note to clients on Thursday, adding the current market price is probably 84 cents on the dollar.
His note came amid published reports that UBS sold its entire portfolio to Pimco, the bond-house giant of German insurer Allianz.

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- americaforme I'm a Fan of americaforme permalink

Teachers retirement system, bailed out by foriegn govs. that could put us in a compromised positon. Is not the way to go...Banks are playing with fire, when they conceal who their benafactors are. Its been a month since their major fire sale... The American people are not slouches be advised..I dont see one bank lowering their interest for the consummers,,,,any Interest that puts our blessed Land at risk is Terrorism....Banks take notice.

    Favorite    Flag as abusive Posted 07:02 PM on 03/06/2008
- VictorLudorum I'm a Fan of VictorLudorum permalink
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the crew got the front seats im happy!

    Favorite    Flag as abusive Posted 04:41 PM on 03/06/2008
- VictorLudorum I'm a Fan of VictorLudorum permalink
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becoming soft phoned [easy to poison ears] is again media ,soon we will have more powerfull finance talk ,both the funds in my notice are illigible enough to do my job......videos.yahoo.com/greatglobalist this manufactureing deal is estimated around over seven hundred and forty for billion usd as a claiorvoyant estimate .............im still waiting!

    Favorite    Flag as abusive Posted 04:39 PM on 03/06/2008
- TiredReader I'm a Fan of TiredReader permalink

Obama has investments through them. UBS is also the 2nd largest contributor to his campaign. UBS may have their fingers in TRS pies... UBS and Jon Bauman, Teacher's retirement system of Illinois:

http://secure.imn.org/~conference/web_confe/index.cfm?sc=20070311_IM_0027&pg=Agenda&promo=

    Favorite    Flag as abusive Posted 04:25 PM on 03/06/2008
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