"UBS will have to fight against negative news flow for at least several more quarters," said Rolf Biland.
It such a pity that UBS will be such a victim. It won't have to fight against losses, much less any just desserts for its poor judgement. It will only have to fight against "negative news flow."
Casee-Shiller March 2008 Home Price Forecast Based On Radar Logic Prices To-Date:
____Metro YoY % Change
Phoenix - AZ -22.6%
Los Angeles -20.3%
San Diego -20.3%
San Francisco -18.9%
Denver -4.3%
Washington -15.4%
Miami -22.6%
Tampa - FL -18.2%
Atlanta - GA -4.8%
Chicago -8.5%
Boston -6.2%
Detroit - MI -18.7%
Minneapolis -12.5%
Charlotte - NC 1.5%
Las Vegas -24.3%
New York -6.6%
Cleveland - OH -8.2%
Portland - OR -5.0%
Dallas - TX -4.4%
Seattle - WA -3.8%
Composite-10 -14.2%
Composite-20 -13.4%
This is great news. Along with the selling of shares 8 dollars below its current price I these writedowns show that capital levels are strong and sound.
It is scary how large their write downs relative to the mortgages on their portfolio. That is not many mortgage securities relative to US banks but still a lot of write downs. Makes you wonder if how much US banks are underreporting their losses.
I bet they get slaughtered as Ireland, Spain & UK continue to implode.
davekro, Interesting idea I dont have an answer but I have noticed that their central bank seems more restraint to cutting their overnight rate than they do here....
This still being Memorial Day, let's take a moment
from our consumer interests and recall that the Walker
spy ring compromised many operations in the U.S.
military after 1967, including SOG operations in Laos.
A related Affidavit of Barry A. Toll (a former Intelligence
Assistant on the Joint Service Staff) dated August 2, 1994:
" we fully expected approximately 300 to 350 Americans
to be released from Laos alone, out of a true figure of 600
missing there. We also expected between 1,050 and 1,200
American POWs to come home. The North Vietnamese
released only 591. "
We keep talking about this, but these gas prices are killing us. Perecptible slow down in numbers of vehicles on the roads in the inter mountain west per trucker friends. W seems oblivious to the whirlpool.
UBS doesn't have all that much exposure to the UK housing market, as investment banks go. It had a small warehouse with a startup lender called Victoria Mortgages, but it defaulted on the facility last July, so the exposure has probably already been written down a fair bit. It's not known as a big buyer of UK RMBS, although I'm sure it has some on its trading book.
I wonder if the UK's housing downturn will exert a downward pressure on LIBOR over the next 3-12 month?
"UBS will have to fight against negative news flow for at least several more quarters," said Rolf Biland.
It such a pity that UBS will be such a victim. It won't have to fight against losses, much less any just desserts for its poor judgement. It will only have to fight against "negative news flow."
UBS needs to sue.
The confessional is still open.
Heck, we are still dispatching with the venal sins as warm up for the mortal variety.
The money quote you already have but for different reasons.
`UBS will have to fight against negative news flow for at least several more quarters,' said Rolf Biland...
What? Fight truth and open transparent accounting? Deal with it sure but the very attitude of defiance means this is far from over.
first!!??
coyote stops running, looks below.
--
Possible or PROBABLE?
Casee-Shiller March 2008 Home Price Forecast Based On Radar Logic Prices To-Date:
____Metro YoY % Change
Phoenix - AZ -22.6%
Los Angeles -20.3%
San Diego -20.3%
San Francisco -18.9%
Denver -4.3%
Washington -15.4%
Miami -22.6%
Tampa - FL -18.2%
Atlanta - GA -4.8%
Chicago -8.5%
Boston -6.2%
Detroit - MI -18.7%
Minneapolis -12.5%
Charlotte - NC 1.5%
Las Vegas -24.3%
New York -6.6%
Cleveland - OH -8.2%
Portland - OR -5.0%
Dallas - TX -4.4%
Seattle - WA -3.8%
Composite-10 -14.2%
Composite-20 -13.4%
Jas
Patience will preserve more capital over the next few years than anything else.
Huh? Where are ya'll?
Nevermind
No!
Jim --
If only it weren't for that damn negative news flow!
Maybe UBS should sue blogs like CR... I hear there's some "tip jar" they could go after.
This is great news. Along with the selling of shares 8 dollars below its current price I these writedowns show that capital levels are strong and sound.
It is scary how large their write downs relative to the mortgages on their portfolio. That is not many mortgage securities relative to US banks but still a lot of write downs. Makes you wonder if how much US banks are underreporting their losses.
I bet they get slaughtered as Ireland, Spain & UK continue to implode.
davekro, Interesting idea I dont have an answer but I have noticed that their central bank seems more restraint to cutting their overnight rate than they do here....
European markets fell just a little bit, Asia fell a lot. Should be an interesting Tuesady.
Welcome back, coupling!
Condo prices have gone down by 20% in Bangalore(India). I wonder what executives at ICICI bank must be thinking.
This might interest you.
His name is Robert Prechter and he had correctly predicted 1987 stock market crash.
YouTube - Stock Market Crash - Robert Prechter on Bloomberg - Oct. 19, 2007
This still being Memorial Day, let's take a moment
from our consumer interests and recall that the Walker
spy ring compromised many operations in the U.S.
military after 1967, including SOG operations in Laos.
A related Affidavit of Barry A. Toll (a former Intelligence
Assistant on the Joint Service Staff) dated August 2, 1994:
" we fully expected approximately 300 to 350 Americans
to be released from Laos alone, out of a true figure of 600
missing there. We also expected between 1,050 and 1,200
American POWs to come home. The North Vietnamese
released only 591. "
Hold back foreclosures and stagger the recognition of losses.
We keep talking about this, but these gas prices are killing us. Perecptible slow down in numbers of vehicles on the roads in the inter mountain west per trucker friends. W seems oblivious to the whirlpool.
Just curious,is the acronym pronounced "you BS" or oobs?
UBS - UBS Homepage - Wealth Management | Investment Banking | Asset Management
What more do you expect from a bunch of morons who have their company logo in red ?
UBS : U And US. We sink together.
Prechter got a big boost from the '87 crash because he was calling it based on Elliot wave theory, but I haven't heard from him since.
Just curious,is the acronym pronounced "you BS" or oobs?
Maybe pronounced "we BS"?
UBS doesn't have all that much exposure to the UK housing market, as investment banks go. It had a small warehouse with a startup lender called Victoria Mortgages, but it defaulted on the facility last July, so the exposure has probably already been written down a fair bit. It's not known as a big buyer of UK RMBS, although I'm sure it has some on its trading book.