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Realistbear

U B S Boss Takes 90% Paycut Due To Huge Hpc Losses

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http://uk.biz.yahoo.com/080318/214/hvrea.html

Tuesday March 18, 02:28 PM

UBS chops chairman's pay by 90%

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LONDON (ShareCast) - Chairman of Swiss bank UBS (Virt-X: UBSN.VX - news) , Marcel Ospel, saw his wages slashed by 90% in 2007 following a (Advertisement)
huge $18bn write-down that plunged the group into a loss for the year.
But Ospel, who earned 26.6m Swiss francs in 2006,
still took home around 2.5m Swiss francs, or $2.6m
, despite a disastrous year due to its exposure to high risk US sub-prime mortgages.
He said last December that he would not expect to be paid a bonus for the period.

The ex-NR boss paid himself out a huge bonus before handing the ship over to Gordon. IIRC Goldman Sachs bosses divided up a fedw billion having shorted the subprime market. It will take decades to restore confidence in the markets due to the level of corruption and incompetence that exists at the top.

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  • 293 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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