This video is called Bond-Buying Spree: Wall Street ‘feasts’ while Americans lose.
From daily The Morning Star in Britain:
UBS agrees to $50 million payout over mis-sold bonds
Wednesday 07 August 2013
The Securities and Exchange Commission (SEC) announced the settlement with UBS Securities, the Swiss bank’s investment arm, on Tuesday.
The bank was allowed to get away with neither admitting nor denying wrongdoing.
The settlement with UBS was the latest in a series regarding Wall Street firms’ dubious conduct over the years preceding the 2008 crisis.
Goldman Sachs agreed in July 2010 to pay $550m (£359m) to settle similar SEC charges of misleading buyers of a complex mortgage investment.
JPMorgan settled similar charges in June 2011 by agreeing to pay $153.6m (£100m) and reached an agreement over mortgage bonds for $296.9m (£194m) last November.
Credit Suisse, Switzerland’s second-largest bank, agreed to pay $120m (£78m).
JPMorgan: We’re Being Investigated By DOJ Over Mortgages: here.
7 Things About Prosecuting Wall Street You Wanted to Know (But Were Too Depressed to Ask): here.
Token fines for banks caught rigging foreign exchange markets: here.
- UBS paying $50M to settle SEC charges on bond sale (nzherald.co.nz)