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UBS: $7 Billion Loss; to Cut 15,000 Jobs
Calculated Risk — Press Release: UBS Reports a Fourth Quarter Loss of CHF 8.1 Billion Also headline from WSJ: UBS posted a fourth-quarter loss of about $6.96 billion and said it would cut 15,000 jobs. The confessional is still very busy. And oldie (Source: Jan-Martin Feddersen, Immobilienblasen) Here is the actually UBS logo.

UBS To Pay $780M To Settle Case With US Government
The Huffington Post | Full News Feed — ... Birkenfeld pleaded guilty to a similar charge. If UBS fails to turn over the clients' information, or stops cooperating with authorities, federal prosecutors could refile charges against the bank. Under the deal, UBS also will completely stop engaging in the type of cross-border banking business that got them into trouble. ___ Associated Press writer Curt Anderson in Miami contributed to this report. ___ On the Net: UBS AG: http://www.ubs.com ...

Parsing Blame in the New Old Wild West....
Brilliant at Breakfast — ... Of those they will only divulge a few in current hearings amongst a particular 52,000. How can that be ethical? You know what? UBS is one of the biggest businesses in my town, having gotten huge tax breaks to build its headquarters here, and I dont see why they should be given such a huge footprint in the US if they are harboring the money of tax cheats and criminals. It has to do with Swiss law not allowing Swiss employees of the banks to implicate themselves in crimes, but shouldnt foreign companies operating in the US have to follow our laws and not be screwing us over ...