Relevant:
- Federal Reserve continues shadow bailout of banking industry -- $947 billion of overpaid and low demand mortgage backed securities sit on the massive $2.8 trillion Fed balance sheet
- Hedgies Placing Strong Bets on Private-Party MBS
- Why Mortgage-Backed Securities Aren't (Backed by Securities): How MERS Toasted the Banks
- Risk of securities fire sale mounts
- S&P cuts $4.6 bln of subprime mortgage backed assets
2009-02-20 — forbes.com
" First UBS was hit by ill-judged bets on mortgage backed securities. Now the U.S. government's crackdown on tax evasion is threatening the very sector it was planning to focus on to steer it out of the subprime mortgage crisis: private banking. "
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