[$$] For UBS, some noxious assets are gone but not yet forgotten (at The Wall Street Journal Online)

yahoo.com     May 21, 2008            

The Wall Street Journal Europe Word Count: 1,036 | Companies Featured in This Article: UBS, BlackRock, Royal Bank of Scotland, Deutsche Bank, Abertis, Goldman Sachs Group, Citigroup, ArcelorMittal UBS HAS SAID AU REVOIR to $15 billion of noxious U.S. mortgage-backed assets by selling them to... [read full story]                    

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UBS sells subprime assets to BlackRock for $15B

cnn.com     May 21, 2008          

Swiss banks unloads risky positions on newly created investment fund run by the money management firm. Paste this link into your favorite RSS desktop reader See all CNNMoney.com RSS FEEDS ZURICH, Switzerland (AP) -- Swiss bank UBS AG said Wednesday it sold subprime and other mortgage-based...                    

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UBS Gets Short-Changed (at Forbes.com)

yahoo.com     May 21, 2008          

LONDON - On Wednesday, UBS (nyse: ) fell 3.3%, or 1.04 Swiss francs ($1.01), to 30.70 Swiss francs ($29.84) in afternoon trading in Zurich as it unveiled the details of its plans, which involve selling $15 billion of Alt-A and U.S. subprime residential securities to a fund managed by investment...                    

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UBS Gets Short-Changed

forbes.com     May 21, 2008          

LONDON - On Wednesday, UBS (nyse: ) fell 3.3%, or 1.04 Swiss francs ($1.01), to 30.70 Swiss francs ($29.84) in afternoon trading in Zurich as it unveiled the details of its plans, which involve selling $15 billion of Alt-A and U.S. subprime residential securities to a fund managed by investment...                    

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UBS Pays Lip Service

forbes.com     May 21, 2008          

LONDON - Swiss bank UBS's grand plan to offload some of its unpalatable mortgage-backed assets and reduce its risk doesn’t seem to amount to much at all. On Wednesday UBS (nyse: ) fell 3.3%, or 1.04 Swiss francs ($1.01), to 30.70 Swiss francs ($29.84) in afternoon trading in Zurich as it unveiled...                    

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UBS sells subprime debts to Blackrock

yahoo.com     May 21, 2008          

ZURICH (AFP) - Swiss banking giant UBS said on Wednesday it had disposed of US mortgage-related assets for 15 billion dollars (9.58 billion euros), a price that is 30 percent below the nominal value, to a fund managed by US investment group BlackRock.                    

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UBS Completes Distressed Debt Sale (at TheStreet.com)

yahoo.com     May 21, 2008          

UBSUBS on early Wednesday said it had sold $15 billion in risky mortgage-related securities at a steep discount to a distressed asset fund managed by BlackRockBLK. The positions, primarily subprime and Alt-A, had a nominal value of $22 billion, UBS said in a statement. The Zurich,...                    

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UBS offloads subprime related securities for $15 billion at a loss of $7 billion

finfacts.com     May 21, 2008          

UBS, the Swiss banking giant, announced today that it has closed on the sale of approximately $15 billion of primarily Subprime and Alt-A US residential mortgage-backed securities to a newly created distressed asset fund that will be managed by BlackRock, the US investment management firm.                    

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UBS sells devalued assets, but keeps some of the risk

iht.com     May 21, 2008          

UBS said Wednesday that it had lent an asset management company $11.25 billion to finance the disposal of distressed assets, easing the strain on its balance sheet without freeing it entirely of the risk. UBS said that it was unloading $15 billion of distressed U.S. mortgage assets into a new...                    

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UBS sells subprime debts to Blackrock (AFP)

yahoo.com     May 21, 2008          

ZURICH (AFP) - Swiss banking giant UBS said on Wednesday it had disposed of US mortgage-related assets for 15 billion dollars (9.58 billion euros), a price that is 30 percent below the nominal value, to a fund managed by US investment group BlackRock. "Risk reduction remains a critical part of...                    

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UBS, BlackRock: Another I-Bank Shell Game (at Seeking Alpha)

yahoo.com     May 22, 2008          

by: Reggie Middleton posted on: May 22, 2008 | about stocks: BLK / UBS Once again, as with Citigroup and several other large investment banks, we have a troubled entity that sells risky assets but fails to truly sell the full risks associated with them - presumably under the impression that we...                    

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