This is a reuters.com article.
UBS AG urged a U.S. judge on Friday to reject claims that it should be held liable for $2 billion in losses that investors incurred on mortgage-backed securities issued before the collapse of the U.S. housing market.
Lawyers for UBS made their closing arguments in the non-jury trial in Manhattan federal court in a lawsuit being pursued by U.S. Bancorp on behalf of three trusts established for mortgage-backed securities.
PiggyBankBlog Bailiff: “All rise! The honorable Congresswoman Marcy Kaptur has entered the Courtroom of Public Opinion!”