oh dear...
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UBS just posted $10 billion writedown
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Somehow..they'll still manage to make a "profit". How much do they have in their "charitable trust"?McCoy: "Medical men are trained in logic."
Spock: "Trained? Judging from you, I would have guessed it was trial and error."Comment
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Originally posted by wendigo100 View PostDoes anyone else get the feeling that this time we really are sliding into something horrible?Comment
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Originally posted by AtW View PostIt's just a start. People have not started defaulting on their morgages to have banks take over their houses to put on market, and then big drops in house values - all this will make banks write off many more billions. Sub-prime market in the USA, apparently, is over $1 trln, imagine the write down if house prices drop 50%...If you find this post offensive, please insert "Chan" before and "tho" after, then it should be OK.
Sometimes I almost feel just like a human being - Elvis CostelloComment
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Originally posted by Chantho View Post$500 billion is about 10 x Northern Rock investment by British Government, not very much for a nation like the US.Comment
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The same banks to which the government owes money to? perhaps a bit of you scratch mine and I'll scratch yours!McCoy: "Medical men are trained in logic."
Spock: "Trained? Judging from you, I would have guessed it was trial and error."Comment
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Blah-blah-blah
1 zillion trillion is b*ll*x. The truth is: WE DON'T KNOW - UBS has had more exposure in the securitized mortgages as they have different processes when assessing risk from someome like Nationwide BS. More risks = more rewards in that market. Generally, banks are playing the odds, however, unlike black-jack or roulette gamblers, the risk is pre-assessed and 99% they will only lose what they can afford to, in UBS case this is more than most. Don't panic.Comment
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Originally posted by AtW View PostDo you think USA will bail out their (very likely foreign actually) banks to the tune of $500 bln?If you find this post offensive, please insert "Chan" before and "tho" after, then it should be OK.
Sometimes I almost feel just like a human being - Elvis CostelloComment
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