Q1 UBS loss at $12B - the global financial meltdown chugs merrily along
actually, "chugs merrily along" is an understatement... it's really on an accelerating downhill luge run...
aw, c'mon... fercryinoutloud, let's stop this slo-mo collapse... let's speed it up and get it the hell over with, and let the chips fall where they may... "where they may" will undoubtedly include the fall of a number of criminal governments, and that of the united states is at the top of the list...
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Swiss bank UBS AG says it expects to post first quarter net losses of $12 billion and to seek $15 billion in new capital.
Switzerland's largest bank also said in a statement Tuesday that it sees losses and writedowns of approximately $19 billion on U.S. real estate and related credit positions. Its chairman Marcel Ospel will step down, to be succeeded by Peter Kurer.
aw, c'mon... fercryinoutloud, let's stop this slo-mo collapse... let's speed it up and get it the hell over with, and let the chips fall where they may... "where they may" will undoubtedly include the fall of a number of criminal governments, and that of the united states is at the top of the list...
Labels: credit crisis, economic collapse, economy, financial markets, financial meltdown, subprime mortgage crisis, UBS
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posted by profmarcus at
4/01/2008
