Swiss trust in UBS eroding: report

[DogPoundPup]

Source: Yahoo / AFP

GENEVA (AFP) - The Swiss people's trust in the country's banking giant UBS has been eroding following the subprime crisis, a survey commissioned by Swiss tabloid newspaper SonntagsBlick indicated Sunday.
ADVERTISEMENT

Only 35 percent of Swiss people surveyed on September 19 said they still trusted UBS, compared to 41 percent of those polled in early February.

Some 60 percent now said they did not trust the bank, while in February, the corresponding figure was 48 percent.

The survey contrasted with the level of confidence in Swiss banking overall, as three in four people said they still trusted Switzerland's banks in general.

Read more: http://news.yahoo.com/s/afp/20080921/bs_afp/switzerlandusbankingcompanyubs_080921102420;_ylt=Aiy.dzzJ1fgfro3U94Lm0Ris0NUE

---

Phil Gramm's UBS Problem- - -If the Texas senator and McCain adviser was supposed to keep the Swiss bank out of trouble, he's made a mess of it.
By Daniel Gross
Posted Monday, July 7, 2008, at 5:58 PM ET

Former Texas Sen. Phil Gramm has emerged as the key behind-the-scenes economics/Wall Street guy for John McCain and is being touted as the treasury secretary in waiting. Since 2002, Gramm has been an executive with the U.S. operations of UBS, the giant Swiss Bank. An unintentionally hilarious interview with Gramm on the Wall Street Journal editorial page last week asserted that Gramm has "been a key instigator of some of the biggest money-making UBS deals of recent years." The interview was noteworthy not just for first-class butt-kissing, but for deliberately gliding over the avalanche of disasters in the past year that has turned UBS from a respected Swiss titan of discretion and risk management into a laughing stock. As this one-year chart shows, UBS's stock lost nearly 70 percent of its value and now stands at levels not seen since 2002, when Gramm signed up.
Read more about Wall Street's ongoing crisis.
http://www.slate.com/id/2194933/

[Tandalayo_Scheisskopf]

1. That whacky knucklehead Phil.

Always cutting up and taking something down: a bank, a nation, whatever.

[Doctor Cynic]

2. Phil Gramm can even screw up a Swiss Bank? Wow.

[Hardrada]

3. The old Communist Party would have a paid a mint to turn

this guy lose.