Bank writedowns? It's hardly a surprise
Story date: 2007-10-05 03:25:00
Added on: 2007-10-05 08:22:25
Globe and Mail - The bad news is that it's hard for UBS (or any other bank, like Royal Bank of Canada ) to expand in those areas ... Then - kaboom! - along comes a financial catastrophe like the subprime mortgage meltdown or a credit crunch. Or a wrong bet on a commodity ...
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