New York sues UBS, alleges auction-rate fraud
(Reuters)
<p><img src="http://d.yimg.com/us.yimg.com/p/nm/20080724/2008_07_24t120718_450x289_us_auctionrates_probe.jpg?x=130&y=83&q=85&sig=4BpHoHCsfIbFrWvf_9XPZA--" align="left" height="83" width="130" alt="A man walks past a UBS AG building in central London April 1, 2008. (Alessia Pierdomenico/Reuters)" border="0" /> (http://us.rd.yahoo.com/dailynews/rss/business/*http://news.yahoo.com/s/nm/20080724/bs_nm/auctionrates_probe_dc)Reuters - New York Attorney General Andrew Cuomo
filed a civil lawsuit on Thursday against UBS AG ,
accusing the Swiss bank of deceptively steering customers into
auction-rate securities that this year became impossible to
cash out of amid the credit crunch.</p><br clear="all"/>
http://us.rd.yahoo.com/dailynews/rss/business/*http://news.yahoo.com/s/nm/20080724/bs_nm/auctionrates_probe_dc