WASHINGTON — UBS is facing more than $600 million in damage claims filed by Puerto Rico investors in closed-end bond funds, the bank said in its second quarter earnings report Tuesday. Read More
Monthly Archives: July 2014
Like a boxer staggering against the ropes at the end of a 15 round, grueling fight, Puerto Rico’s economy is heading down for the count. Meanwhile, Mom and Pop investors in Puerto Rico’s debt face getting the shaft due to a new law that puts government agencies first and investors […]
Move over O.J. Simpson. It looks like the Big Wall Street Banks just got away with something close to murder. After causing $2.7 trillion in investor losses during the financial crisis, it looks like the Too Big To Fail gang will pay a paltry $100 billion collectively to resolve all […]
The worldwide asset bubble is growing to alarming proportions. Spanish bonds are hotter than at any time since George Washington was president. Manhattan real estate valuations are reaching higher than the Empire State building, and a French cable TV company you have never heard of just borrowed $11 billion, the […]
Sometimes lightning does strike twice. For the second time in less than a week, the U.S. Supreme Court dealt a blow to big business by issuing a ruling in favor of plaintiffs suing in “stock-drop” cases—this time for employees invested in company stock plans bringing class actions under ERISA. The […]