UBS Agrees to $19.4B Auction-Rate Bond Buy-Back

By Clay Dillow, Newser Staff

Posted Aug 8, 2008 10:56 AM CDT

(Newser) – UBS, pressured by state and federal authorities, has agreed to buy back $19.4 billion in risky auction-rate securities that were widely sold as cash-like and safe, the Boston Globe reports. The market for the securities, which are a type of bond sold by non-profits,... Read full story »

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UBS Agrees to $19.4B Auction-Rate Bond Buy-Back

Citigroup • UBS • Merrill Lynch • bonds • auction-rate securities • investment banks

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