Wednesday, Aug 13, 2008
the early impression that the worst of the subprime crisis was over turned out to be illusory.
SOTT Washington Post: UBS Takes More Hits in Subprime Crisis
UBS, one of the hardest-hit banks in the subprime mortgage crisis, said Tuesday that it lost $331 million in the second quarter as it took another $5.1 billion hit in write-downs on bad assets.
The net loss for Switzerland's largest bank in the April to June period compared with a profit of $5 billion a year earlier, while the write-offs on dwindled holdings brought the total for the past year to $42.5 billion.
Posted by malct @ 08:26 AM (250 views) Add Comment
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