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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (124357)	5/21/2008 10:41:45 AM
From: Think4Yourself	Read Replies (2) \| Respond to of 306849

"BTW, huge draws in crude in the EIA inventories this week...even with price at 125/bbl and up." That's extremely bad news, and a bit surprising. Given how empty the roads have been these past two weeks I would expect that we are actually building supply. I wonder where all the oil is going, besides the SPR, which they are still filling. Also, FWIW, I don't believe oil is in a bubble either. It may come down in the near term due to worldwide recession, but longer term it is going higher, a LOT higher.

To: patron_anejo_por_favor who wrote (124357)	5/21/2008 11:02:46 AM
From: Jim McMannis	Respond to of 306849

UBS sells subprime debts to Blackrock Wed May 21, 5:58 AM ET news.yahoo.com ZURICH (AFP) - Swiss banking giant UBS said on Wednesday it had disposed of US mortgage-related assets for 15 billion dollars (9.58 billion euros), a price that is 30 percent below the nominal value, to a fund managed by US investment group BlackRock. "Risk reduction remains a critical part of our ongoing financial restructuring and this sale is a big step towards further reducing our positions in this asset class," said Marcel Rohner, chief executive of UBS, the bank which has suffered most from the subprime crisis.