One site for Breaking News, Politics, Sports, Entertainment & more!

Newz Chooze
Back

Swiss bank has already paid $230m to New York and says it was a victim of financial crisis The Swiss bank UBS has pledged to vigorously defend itself in a pending lawsuit by the US justice department, which has already clawed billions of dollars from lenders over the mis-selling of complex financial products that contributed to the 2008 financial crash. The Department of Justice (DoJ) told UBS it planned to file a case as early as Thursday, which is set to focus on the sale of residential mortgage-backed securities (RMBS) in 2006 and 2007. Continue reading...