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Old 13.10.2008, 09:31
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Re: How Safe is UBS

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Unfortunately for them, CS (or I should specify CSAM) were *very active* in placing Collateralized Debt Obligations (CDOs) all around. According to what they were saying at one-to-one meetings at the time, most of the CDO issues were place internally in managed portfolios. Apparently, acct execs were "clamoring" for the stuff and so if we (i.e. my ex bank) had any interest in the stuff we would have had to expect to receive only a fraction of our overall interest.
Where is that paper today? Still in the clients' portfolios ? Did they just buy it back from clients even maybe even only 6-8 weeks ago and are now carrying it (at a LOSS) on their books? CS might yet be that bank that cripples Switzerland...who knows... :-/

Paul

p.s.: 100th post... pat on my shoulder. I would rather have had something positive to comment, instead of this. Sign'o'the times
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