Morgan Stanley
Morgan Stanley is taking junk CDO paper, splicing it up and is trying to sell a trunch of it as AAA paper...
This is the same securitization game that blew up the economy. But thanks to a Team Obama replete with Wall Street hacks, they are trying to get Humpty Dumpty back on the fence again.
http://market-ticker.denninger.net/archives/1190-Well-Scam-You-Until-Forced-To-Stop.html
UBS - Paine Webber
The IRS and the Swiss Government are in a duel over the release of Swiss Bank Account data to help the USA prosecute tax cheats.
The US Justice Department wants info on UBS clients and the Swiss Government is threatening to confiscate the data.
The logical end game is for the US to simply pull the banking license from UBS to prevent them from doing business here. If you have an account at UBS/Paine Webber, you should be a little uneasy right now...
http://www.bloomberg.com/apps/news?pid=20601087&sid=aw47ebxOsK9E
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