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Understatement of the year

S

Simon James

Senior Member
In the news today - Swiss Bank UBS has lost some $2bn as a result of unauthorised trading. ZKB trading analyst Claude Zehnder said "They obviously have a problem with risk management." A $2bn problem!
 
See, by working in another company you can state the obvious and got the press to have your company in the article.

From that prospective, risk is none, but some utility (some exposure to the general public that UBS is not the only Swiss bank) has been achieved.

"No free lunch" - what you on about?

The question the reporter hasn't asked or didn't get answered was - has your bank made some losses due to operational or risk management mal-functioning?

Surely that would make ZKB a headline, right?
 
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