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UBS Gets a Bailout

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December 10, 2007 – Comments (4)

Hey, looks like UBS's $10 bill or so in bailout money came cheaper than Citi's. All is well, right?

4 Comments – Post Your Own

#1) On December 10, 2007 at 1:13 PM, Imperial1964 (97.81) wrote:

What are you talking about?

The emperor has clothes.

The emperor has clothes.

The emperor has clothes. 

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#2) On December 10, 2007 at 2:39 PM, saunafool (98.68) wrote:

My favorite part:

"In the last several months, continued speculation about the ultimate value of our subprime holdings -- which remains unknowable -- has been distracting," Mr. Rohner, the chief executive, said in a statement.

"In our judgment, these write-downs will create maximum clarity on this issue and will have the effect of substantially eliminating speculation."

So, the ultimate value of subrime holding remains unknowable, right? Yet, in their judgement, these write-downs create maximum clarity.

And, just so you can be sure about that maximum clarity,  (UBS) declined to rule out further write-downs in 2008.

A few times, I've driven in blizzards so thick, it was impossible to see the lines on the road. In those cases, maximum clarity extended to the hood ornament. I mean, if cars still had hood ornaments. Report this comment
#3) On December 10, 2007 at 2:47 PM, GS751 (27.54) wrote:

hahaha saunafool great comments.

"In our judgment, these write-downs will create maximum clarity on this issue and will have the effect of substantially eliminating speculation."

So, the ultimate value of subrime holding remains unknowable, right? Yet, in their judgement, these write-downs create maximum clarity.

And, just so you can be sure about that maximum clarity,  (UBS) declined to rule out further write-downs in 2008.

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#4) On December 10, 2007 at 4:27 PM, camistocks (< 20) wrote:

The funny thing is, that UBS was also involved in the LTCM hedge fund  back in 1998 and the Chairman had to go, because they had lost hundreds of millions $. Since then it was known and they bragged about being a very conservative bank and not behind the quick buck. Some things never change...

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