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...exposure to the toxic subprime market in the U.S. is growing fast. "Those arrogant and greedy bankers are tarnishing our image," says Marie-Claire Favre between sips of her cappuccino in a Lausanne cafe. Standing in front of UBS's Lausanne office, Bernard Thevenoz can't hide his outrage. "Those thugs, they are dragging our country through the mud," the octogenarian hisses, waving his cane towards the palatial building. "How can we ever regain our dignity...
...past few months have not been good for the industry, and in particular UBS, which has been under a cloud since last summer. That was when news broke that U.S. authorities were investigating the world's largest manager of private wealth for its role in helping rich Americans hide $200 billion in undisclosed offshore accounts to avoid taxes. Last month UBS agreed to pay the U.S. a $780 million penalty to absolve itself of criminal fraud charges. It also agreed to release the names of 250 clients whom the U.S. suspects of evading taxes. Two weeks ago, as UBS shares...
...dress shop for lasses in mourning—and call it, what, The Gloomy Loom of Doom?“And that’s why my embroidered pigs are so rotten!” I heard blare from behind me.I froze at her voice! Where could I hide? What was even huge enough to hide me? A statue? A cross? An ironclad? There was nothing anywhere. A church foyer had never been so ruthless!Then I saw him. Next to the Easter egg crucifix stood Marshall Pellet. He would shield me from her. But was he alone? Too late...
...because Midwesterners owe more on their properties than left coasters. The average loan-to-value ratio in California is 70%, while Nebraska and Iowa clock in at 75% and 76%, respectively. As the recession deepens and home prices continue to slide, there are fewer and fewer places to hide...
...While the university has some reasons to hide some of the precise details of its finances, this kind of confusion could be easily clarified with a greater transparency of the university’s overall financial situation. Specifically, Harvard should be more forthcoming with details about the liquidity and flexibility of its endowment assets...