The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

The logo of Swiss bank UBS is seen on a building in Zurich, February 13, 2013.
The logo of Swiss bank UBS is seen on a building in Zurich, February 13, 2013.
(Michael Buholzer/Reuters)

BREAKINGVIEWS

UBS settles housing suit with U.S. government for $885-million

Reuters Breakingviews delivers agenda-setting financial insight. Its global correspondents react to stories as they develop, delivering sharp and provocative commentary on big financial news as it breaks.

The $885-million UBS AG settlement with the Federal Housing Finance Agency is a big win for Edward DeMarco. As head of the U.S. agency that oversees Fannie Mae and Freddie Mac, he has become one of the most reviled regulators inside the beltway. The legal victory should earn him some well-deserved respect.