Monday, April 21, 2008

You would have thought these guys were smart! Guess NOT!

UBS admits list of errors before key meeting

UBS this morning detailed a catalogue of failures that contributed to a $37.4 billion (£18.8 billion) writedown, including the rushed set-up of its hedge fund business, overaggressive growth plans and a lack of risk management. Guess there will be more of the same as more and more European and Asia banks come clean....watch this space.

Posted by rental john @ 06:31 PM (491 views)
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