UBS is about to go bankrupt. This is the reality. It is in even worst condition than Société Générale. Just a small recall. Financial leverage at UBS. 80 to 1 !
Isn’t there some sort of bailing out mechanism which can be employed by govts and CBs to make everything alright for these poor banksters? I’m sure there’s gotta be rofl.
What does a sacked investment banker do…
Where does a sacked investment banker go…
I wonder how many USB ports in the UBS headquarters.
A TIN CUP . DARK GLASSES & A SCABBY DOG FOR FORMER UBS EMPLOYEES
Oh NOES !! No Bonussessses??!!?
Well, without Bonussesses these talented bankers will surely leave immediately, and easily pick up swanky jobs at another bank, like maybe BOA, right?
“Which agency should oversee off-exchange derivatives trading?” with Phil Gramm’s favorite answer – “None of them!”
I picture a large swimming pool full of rotting CDO’s, CDS’s. The pool is ringed by a full compliment of “lifeguard” chairs manned by the heads of biggest of global investment houses. In the middle of this cesspool the infamous Phil Gramm trying desperately to buoy himself with his personal copy the Commodity Futures Modernization Act of 2000; poor Phil he is sinking fast. Hark a splash! Some dastardly demon has pushed Enron’s darling into the filthy pool with her hubby! MY. OH, MY!
New question! Which life guard will go to the rescue? The answer … none of them. … The plutocracy morphs, into default mode, autocracy.
When collective f*ck-ups become collective penalties then the collective will have the imperative and motivation to improve.
NB … By which I mean to speak up for collective responsibility, while abhorring the travesty of collective punishment.