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UBS: No Guts, No Glory

Sep 15, 2011 by Joerg Resch

I just read that UBS is reporting some 2 Billion $$ damage from "unauthorized deals" one of their investment bankers made. 2 years after Kerviel / Société Generale. This is the hard way of learning things. The only thing that now might really help those who will be asked why somebody is able to do unauthorized deals and create 2 Billion Dollars loss: Get the latest album from Australian Hard Rock Band Airbourne: "NO GUTS NO GLORY", take a day off and listen to it. Or for immediate relief, have a look at their "NO WAY BUT THE HARD WAY" video. Great music.

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Joerg Resch
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