The fall of the house of UBS

UBS the Swiss investment house is crumbling. It is losing its very rich clients who once benefited by the bank's scheme to cheat the US treasury. More than that, it is heavy into subprime mortgages and has agreed to buy back auction certificates to the tune of double digit millions which it misrepresented to its buyers when UBS was hawking them on the market. Its senior management is in disgrace, and should they put a foot on US soil, they will be arrested. UBS won't go belly up, but it will throw out of work thousands, downsize, restructure, and suffer for a time a servere loss of prestige.