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UBS rogue trader
Topic Started: Sep 16 2011, 01:16 PM (147 Views)
Joan Foster

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8769232/Rogue-trader-Kweku-Adoboli-weeps-in-the-dock-as-he-is-charged-with-UBS-fraud.html

Can anyone explain this story to me? How was something of this magnitude able to happen? I am seriously confused. :confus:
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Baldo
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Those are serious questions that need to be answered.

Remember how a few hundred employees in the London AIG office brought the USA financial system to its knees?

UBS is a Swiss bank and the Swiss thought they were immune. Reports are this could cost thousands of jobs.

I am beginning to believe that these large International Banks are just fraudulent in some of their activities. Playing with funny money who cares?.
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