UBS rogue trader loses $2 bln

[busenbust]

UBS rogue trader loses $2 bln


^just the tip of the_iceberg i suspect...no client's positions affected they Promise ! yeah, right !


http://www.reuters.com/article/2011/09/15/ubs-idUSL5E7KF0F120110915

 

[D-rock]

UBS rogue trader loses $2 bln


^just the tip of the_iceberg i suspect...no client's positions affected they promise ! yeah, right !


http://www.reuters.com/article/2011/09/15/ubs-idUSL5E7KF0F120110915

Somehow I think that when 2 billion dollars disappears it's going to effect somebody. I don't think all that money lost was his own.


What I also find interesting is all the layoffs not only them but other financial institutions are doing. With all the layoffs happening everywhere in every industry it makes me wonder who all those companies out there think will by their product or invest in them.

 

[Mayhem]

Somehow I think that when 2 billion dollars disappears it's going to effect somebody.

UBS is probably going to cover the unauthorized trades rather than face a decade of obvious and unwinnable lawsuits. Hence the probable 3rd quarter loss.

 

[Rey C.]

Bloomberg just reported that clients are already heading for the exits.

Poor guy won't even be able to sell the movie rights to cover his legal expenses, since it's already been made! But Nick Leeson only lost $1.3 billion. Shoulda tried harder!

 

[busenbust]

....meanwhile, the euro rallies ! Greece is fixed !! :laugh: :rofl: :rotfl:


^^Fuck u Greece and fuck u Trichet !

 

[Supafly]

Don't nobody worry, if the bank gets into SERIOUS trouble, there's always the taxpayer to cover that.

Again, 'reverse socialism'. The rich loose, the poor pay.

 

[busenbust]

Don't nobody worry, if the bank gets into SERIOUS trouble, there's always the taxpayer to cover that.

Again, 'reverse socialism'. The rich loose, the poor pay.

^^:yesyes: :goodpost:

 

[james85]

Great post Supadupafly, fucking bankers are crippling countries all over the world.