A View From Middle England - Conservative with a slight libertarian touch - For Christian charity and traditional belief - Free Enterprise NOT Covert Corporatism

Saturday, September 24, 2011

UBS boss quits over rogue trader business

Time to go
So I was wrong in thinking Herr Gruebel would stick it out. He's actually decided to go, albeit a bit after the event. According to the bank he "feels that it is his duty to assume responsibility for the recent unauthorised trading incident". That's quite honest and decent, but the ones left in charge should see to it that never again such a toxic mixture of greed and adrenalin is allowed to course through the veins of young traders. Oh, and a belief that somehow gambling is the same as risk taking. That canard should be nailed squarely to prevent other incidents happening.


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