UBS Covers Its Bases, Sends Message That It Will Announce $7.9999999 Billion Writedown
UBS denied rumors that it will make a fourth-quarter writedown of $8 billion by saying today, “UBS does not expect writedown numbers like those implied in its outlook which means writedown numbers like $8 billion are not expected. [This also means that anything in the range of 7 billion and change, a number not like 8 billion because it’s 7, is fair game].” Another possible scenario, according JP Morgan, is a $8 billion writedown broken into bite-sized pieces spread out over several quarters, which several students at Harvard have already told us they find “totally unacceptable” and maybe grounds for a Crimson editorial.
Incidentally: http://www.youtube.com/watch?v=TCprlfJ2Mzc
.
UBS CFO says not to expect massive Q4 writedown [Reuters]
Subprime Hits Seem Likely To Keep Coming [WSJ]
UBS May Write Down $1.8 Billion This Quarter, JPMorgan Says [Bloomberg]
Comments
UBS will be right down to the writedown. When they are ready, I guess.
Posted by: anon anon anon | November 15, 2007 01:25 PM
Thanks for ths NSFW about the language.
Posted by: At work | November 15, 2007 02:32 PM
who watches videos w/o their headphones on? idiot.
Posted by: Anonymous | November 15, 2007 02:38 PM
Thanks for being a douche.
Posted by: At Dealbreaker | November 15, 2007 02:42 PM
UBS Investment Bank announced that effective today it will close its Home Finance unit – including the wholesale mortgage origination business and correspondent lending operation – as part of its previously announced realignment of its Fixed Income Currency and Commodities business (FICC).
Posted by: Anonymous | November 15, 2007 05:22 PM
Hey at work, pull your head out of Timmmaaays sphincter, buy headphones, and watch the videos like every other non-mongaloid who reads this website.
Stupid fuck.
Posted by: At work smokes pole | November 16, 2007 01:27 AM