Archive for September 16th, 2009

UBS & CDO Sales: Early Warning

  • Published: September 16th, 2009
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1:23:33 Here’s a great story, a friend of mine went to Japan a year ago, was talking with one accountant, and he was talking about investing in some subprime securities, and the accountant said, ‘no, no, no, I don’t want any subprime securities, I want a CDO.’ [laughter] So, you know, that’s, yeah, there’s an issue, but I … – Tom Zimmerman,1 UBS fixed income analyst, March 28, 2007 So what’s the big tickle?2 …. And it’s fair to assume that Pursuit wasn’t the only hedge fund or institutional investor buying “crap” from UBS in the summer of 2007. The…
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Nova Scotia's New Empty Apology Act

The Apology Act, which comes into effect Oct. 1, broadly defines an apology and states that it can’t be used as evidence in legal proceedings to establish fault or liability. – CBC1 As usual, there is rather more than meets the eye here, and it’s not a case of an eccentric rookie mistake by our newly elected NDP (that’s socialist, by the way, a Maritime first) provincial government, either.  The story and a commenter in the thread below note that the majority of Canadian and American jurisdictions, Australia and the UK all have similar laws.  So what gives with this?…
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