UBS chairman Ospel admits underestimating US subprime crisis

Story date: 2007-10-07 05:17:00
Added on: 2007-10-07 08:00:30

CNBC - We poorly evaluated the impact of changing interest rates" in the US which triggered the problems in that country's mortgage sector, he said. "The problems started with the last change in interest rates and were compounded by DRCM." DRCM is UBS's ...


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