Archive for April, 2008

The Swiss Meltdown of another $12B, no April Fool

Just when you thought only U.S. financial institutions were in deep trouble, Switzerland’s largest bank UBS AG (NYSE: UBS, stock. VTX: UBSN) dropped another bombshell when it said it expected to post first-quarter net losses of a mind-boggling $12 billion and would seek $15 billion in new capital due to exposure in U.S. subprime mortgage. […]

... written on Apr 01 2008

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