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When a UBS Puerto Rico bond investor looks at their account these days, if they have the courage to do so, they are probably staring at losses over the past two months of 50% to 60%. And it could get a lot worse. At least one ratings agency, Fitch, is […]
Listen to Jake and Marie’s interview with Kike Cruz.
Puerto Rico’s economy and bond ratings are starting to resemble those of Detroit and Greece. Larry Summers, the former Treasury Secretary last week called Puerto Rico’s bonds “the junkiest of the junk”. The question, burned UBS retail bond investors are asking is, how did this happen? Look no further than […]
How on earth could trusted, so-called UBS “financial advisors” recommend that conservative and retired investors in Puerto Rico fill their accounts with Muni Bonds which have near junk ratings? That’s the call the firm made for conservative investors, and it’s shocking to hear what has happened to thousands of trusting […]
The big boys at UBS are probably popping bottles of bubbly today to celebrate what appears to be a big legal victory for the firm. An administrative law judge for the Securities and Exchange Commission ruled on Tuesday that the SEC failed to prove that two high-ranking UBS Puerto Rico […]
The federal government is now putting under its microscope mutual fund companies that have invested billions of dollars in Puerto Rican municipal debt, according to several news reports last week. As this blog has noted over the past several weeks, the storm of losses created by Puerto Rican municipal securities […]
Seven years ago, in the wake of a government shutdown caused by a $740 million budget deficit, Puerto Rican officials vowed to fix the island’s finances by 2010. Now investors are calling their bluff. In the $3.7 trillion municipal-bond market, Puerto Rico and its agencies more than doubled their borrowing […]
Zamansky LLC files its first arbitration against UBS Financial Services Inc. of Puerto Rico on behalf of a customer over alleged losses in its closed end funds, including the Puerto Rico Fixed Income Fund, the Puerto Rican Tax Free Fund, the Puerto Rico Bond Investors Fund and other funds. The […]