Tuesday, December 11, 2007

You + US = FUBAR!


UBS just announced *another* $10B in writedowns??? Blamed bad "subprime" mortgages of course.

holy crap.

anyone remember the good ole days when a "rogue trader" nick leeson lost a "mere" $1.4B and bankrupted Barings, a 233 year old bank?

what's it gonna take before the first of these goliaths get involved in a "take under"?

another couple $10B here and there and that's gonna start to add up to real money :)

...at least until the fed makes it all go away with another rate cut. (that was sacrcasm by the way)


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