From Semafor, September 24:
The News
The senior leadership of UBS has revived discussions about ways to move the bank out from under Swiss regulators’ heavy hand, including through a combination with a foreign bank, after a setback this week, people familiar with the matter said.
Switzerland’s parliament voted this week to advance a law requiring UBS to raise as much as $20 billion in capital, which bank executives say would gut its ability to lend profitably. “We can live with a black eye, but two black eyes and a broken nose is too much,” CEO Sergio Ermotti said....
....MUCH MORE
I wonder if they'll change the letterhead stationary?
I had a friend who ended up with a boxcar full of F.I. duPont, Glore Forgan stationary when DGF's successor brokerage, duPont Walson, failed during the '73-'74 bear market and the bankruptcy trustee sold everything.
Twenty years after the failure I was still getting Christmas cards and other ephemera in duPont, Glore Forgan envelopes. His executors found literal tons of the paper in one of his homes, he had apparently only used a quarter of the original boxcar-load. I think it was finally sold for pulp.
Et tu. UBS?
