UBS Chief Admits Ignoring Mortgage Loss Warnings
Story date: 2007-10-07 11:15:00
Added on: 2007-10-07 12:34:53
All Headline News - UBS president Marcel Ospel said the bank underestimated the woes facing the home loans ... We poorly evaluated the impact of changing interest rates in the United States which triggered the problems in that country's mortgage sector," he said.
Read more...
Related Stories:
-
Marcel Ospel's dream turns to dust (The Australian)
Marcel Ospel, the Swiss bank's boss, was forced to fall on his sword last week...
2008-04-06 07:00:00 -
UBS Says Ospel Resigns After $19 Billion Writedowns (Update4) (Bloomberg.com)
April 1 (Bloomberg) -- UBS AG , battered by the biggest writedowns from the collapse of the U.S. subprime mortgage market, reported...
2008-04-01 03:42:47 -
UBS: The crisis at the heart of the Swiss bank - Daily Telegraph
On Tuesday Peter Kurer, the new UBS chairman, fulfilled his first promise. The 59-year-old former company lawyer drew a line under the...
2008-07-06 10:30:00 -
After Denial Comes Accommodation (GoldSeek.com)
Back in June of 2006 I posted some long excerpts from an internal report produced by Colorado & Santa Fe Real Estate,...
2008-02-24 07:34:48 -
UBS pays the price
The Independent - In a classic warts-and-all exercise, UBS's new chief executive, Marcel Rohner, got the bad ... third quarter as it...
2007-10-02 01:26:00 -
Top Scoops (Scoop.co.nz)
Everything great in the world comes from neurotics. They alone have founded our religions, and composed our masterpieces. Never will the world...
2008-05-28 06:53:45 -
ANALYSIS-UBS keeps Ospel more as lightning rod than chairman
Forbes - ... Swiss bank's history could go higher were ratcheted up last week when UBS revealed that its exposure to...
2008-02-21 10:10:00 -
First Bank Mortgage's Ex-President Indicted In $35 Million Fraud - CNN Money
The former president of St. Louis's First Bank Mortgage, a unit of First Bank, was indicted Thursday for allegedly losing the institution...
2008-07-10 04:23:00