Monday, May 19, 2008
Downfall
Bloomberg: UBS $100 Billion Wager Prompted $24 Billion Loss in Nine Months
"In the nine months ended on March 31, UBS lost 25.4 billion Swiss francs ($24.3 billion), more than any other bank caught in the worldwide credit crunch. Shareholders say Chairman Ospel and his fellow managers took a profitable Swiss bank and wrecked it on the shoals of structured finance and subprime mortgages".
Posted by alan @ 05:51 PM (227 views) Add Comment
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