The UBS Crisis: Poor Management Causes a Counterparty Risk Crisis

UBS is a bank that has focused on wealth management for the richest clients, and this has been a stable and profitable business./nHowever, UBS was forced to acquire critty Swiss, which many people believe was at a price below the market value of the bank./nThere is a sense in which the train came off the rails with credit Swiss, as there were financial reporting issues that were not properly disclosed.