Industry News

Probe opens on Wall Street ratings of subprime lenders

UBS, Bear Stearns get subpoenas over 'rosy' analysis of New Century
Published on Mar 14, 2007

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by CareyBot

Saying their research of subprime lenders such as New Century Financial Corp. was “very rosy,” Massachusetts Secretary of State William Galvin has issued subpoenas to Wall Street investment banks UBS Securities LLC and Bear Stearns & Co., the Associated Press ...