UBS writes off 19 billion bucks. (loans, debt, money, financial)

[70Ford]

I wish the banks would just admit how much bad debt they had, and stop spoon feeding the losses to the public.

Then again, UBS is probably TBTF (Too big To Fail).

UBS Writes Off $19 Billion: Financial News - Yahoo! Finance (broken link)

UBS AG's chairman abruptly resigned Tuesday....


19 BILLION.

That's 10....to the 9th power...times 19.

My god, that's a lot of money.

[sean98125]

I wonder how much they made in profits when they started underwriting trash loans. They are probably still ahead even after this write-off.