Interesting site that serves as a central site for news on Auction Rate Preferreds. Old columns still on www.InSearchOfThePerfectInvestment.com.
More bad news - UBS could be the next bank to go down. UBS can no more justify marking down the value of the ARPs it sold its investors than it can justify having lied to its investors about ARPs being "cash equivalents." UBS Lowers Price of Security Seen as 'Cash'. Some Face Paper Losses Of More Than 20% On Auction-Rate Bonds. March 30 - UBS AG may ask shareholders to approve a capital increase of as much as 16 billion Swiss francs ($16.1 billion). The bank needs that amount of money to keep its Tier 1 capital ratio at 12 percent, the newspaper said.
Fremont General Corp. and its Fremont Investment & Loan subsidiary have been categorized as an "undercapitalized" depository insititution by the Federal Deposit Insurance Corp. and was directed to recapitalize the bank by May 26, or sell.
2011 Flying Heart Cellars Red Wine - $5
13 years ago
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