UBS confronting the investigation by Sandra Stoklaskova

The Wall Street Journal said on Saturday, that U.S. government prosecutors are investigating UBS Bank. Swiss Banking giant is facing the accusation of reporting inflated prices of mortgage-backed securities. They held it in spite of knowing those valuations had eroded.The Journal also said, that U.S.Attorney for the Eastern District of New York had not yet lay out summon for this investigation.Unnamed sources added, that prosecutors from New York are cooperating hand in hand with the U.S. Securities and Exchange Commision.UBS and also Merrill Lynch and Co Inc are examinated by SEC due to pricing of mortgage securities. And as it use to be, both the UBS and Merrill Lynch spokesman was not yet prepared to comment this situation.Economic markets across the Globe was hitted last week, because of credit crisis and UBS is not clause, for sure. They increased their subprime writedowns to $18.4 billion, after this bad situation on global markets."We are looking into whether fraud occurred in the packaging and selling of complicated mortgage securities like collateralized debt oblibations," said U.S.Justice Departmnet, according to the Journal.Merrill Lynch and Co Inc is going to be invastigated because of suspicion of selling unsuitable mortgage related securities to Springfield city.Las year Merrill invested approximately 14 million american dollars. Without the allowance from the Springfield, he used their money only to see most of the value erased.Representatives of this city said: "Merrill had agreed to pay back $13.9 million."UBS remains still under investigation.

related story: http://news.yahoo.com/s/nm/20080202/bs_nm/ubs_investigations_dc;_ylt=AtWe.RhmHPqnu6t9NcrzQ2Ws0NUE

by Sandra Stoklaskova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.

Edited by Federica Paddeu

Katrina by Zuzana Valkova

You would say how beautiful name. But after the August 2005 in the United States, is this name one of the most hated. Hurricane Katrina came to the New Orleans area and destroyed everything what was in its way. The day before, started one of the biggest evacuation actions in the history. On August 29 died 1464 people, mostly elderly and poor people, who didn't have a chance to leave the city. The main problem caused by this hurricane was that the strength of it destroyed about 50 flood walls and levees near the city. So the water didn't have any other barrier and could easily drown the city. Many people weren't able to leave the city, so they had to swim in that dangerous, dirty, cold water and try to find a place where to stay. Others had to hide on the roofs of their houses or in totally strange buildings. 80 % of the city was under the water. Somewhere was the water level 15 feet high. New Orleans stadium called Superdome became the refugee camp for people who remained there. People from all over the country came to help to army and doctors to save and care about injured or weak people. Many people brought food, clothes, and many donate their money. Lots of people help with searching for people alive and cleaning the mess. All the country came together. It's sad that they could do this only because of hurricane like this.Katrina was hurricane category 5. It didn't affect only Louisiana and New Orleans, but also Florida, Mississippi, Alabama, Cuba and Bahamas.

related story: http://news.yahoo.com/s/ap/20080131/ap_on_re_us/katrina_levee_suit;_ylt=AgPDO5VLXyyXKQXI9xykdXOs0NUE

by Zuzana Valkova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.

Edited by Federica Paddeu

UBS confronting the investigation by Sandra Stoklaskova

The Wall Street Journal said on Saturday, that U.S. government prosecutors are investigating UBS Bank. Swiss Banking giant is facing the accusation of reporting inflated prices of mortgage-backed securities. They held it in spite of knowing those valuations had eroded.The Journal also said, that U.S.Attorney for the Eastern District of New York had not yet lay out summon for this investigation.Unnamed sources added, that prosecutors from New York are cooperating hand in hand with the U.S. Securities and Exchange Commision.UBS and also Merrill Lynch and Co Inc are examinated by SEC due to pricing of mortgage securities. And as it use to be, both the UBS and Merrill Lynch spokesman was not yet prepared to comment this situation.Economic markets across the Globe was hitted last week, because of credit crisis and UBS is not clause, for sure. They increased their subprime writedowns to $18.4 billion, after this bad situation on global markets."We are looking into whether fraud occurred in the packaging and selling of complicated mortgage securities like collateralized debt oblibations," said U.S.Justice Departmnet, according to the Journal.Merrill Lynch and Co Inc is going to be invastigated because of suspicion of selling unsuitable mortgage related securities to Springfield city.Las year Merrill invested approximately 14 million american dollars. Without the allowance from the Springfield, he used their money only to see most of the value erased.Representatives of this city said: "Merrill had agreed to pay back $13.9 million."UBS remains still under investigation.

related story: http://news.yahoo.com/s/nm/20080202/bs_nm/ubs_investigations_dc;_ylt=AtWe.RhmHPqnu6t9NcrzQ2Ws0NUE

by Sandra Stoklaskova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.

Edited by Federica Paddeu

UBS confronting the investigation by Sandra Stoklaskova

The Wall Street Journal said on Saturday, that U.S. government prosecutors are investigating UBS Bank. Swiss Banking giant is facing the accusation of reporting inflated prices of mortgage-backed securities. They held it in spite of knowing those valuations had eroded. The Journal also said, that U.S.Attorney for the Eastern District of New York had not yet lay out summon for this investigation. Unnamed sources added, that prosecutors from New York are cooperating hand in hand with the U.S. Securities and Exchange Commision. UBS and also Merrill Lynch and Co Inc are examinated by SEC due to pricing of mortgage securities. And as it use to be, both the UBS and Merrill Lynch spokesman was not yet prepared to comment this situation. Economic markets across the Globe was hitted last week, because of credit crisis and UBS is not clause, for sure. They increased their subprime writedowns to $18.4 billion, after this bad situation on global markets. "We are looking into whether fraud occurred in the packaging and selling of complicated mortgage securities like collateralized debt oblibations," said U.S.Justice Departmnet, according to the Journal. Merrill Lynch and Co Inc is going to be invastigated because of suspicion of selling unsuitable mortgage related securities to Springfield city. Las year Merrill invested approximately 14 million american dollars. Without the allowance from the Springfield, he used their money only to see most of the value erased. Representatives of this city said: "Merrill had agreed to pay back $13.9 million." UBS remains still under investigation.

related story: http://news.yahoo.com/s/nm/20080202/bs_nm/ubs_investigations_dc;_ylt=AtWe.RhmHPqnu6t9NcrzQ2Ws0NUE

by Sandra Stoklaskova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.