Swiss bank UBS likely sold about $24 billion worth of U.S. Alt-A mortgages at “fire sale” prices, JPMorgan Chase analysts said. (Bloomberg) Other banks also predicted that UBS, Europe’s largest bank by assets, faced billions more in write-downs tied to risky mortgages. The reports sent UBS shares down more than 3 percent early today. (Reuters)
The bottom line
March 6, 2008
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