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Old 06.10.2008, 22:48
Nev
 
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Re: How Safe is UBS

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What bothers me is the US tendency to give profits to the capitalists and socialize the losses. That is so unfair. Then better to be a customer of the nationalized PostFin or Cantonal Banks. At least the profits in good times to pay for the losses in bad times.
You're right to deposit your money and allocate your custom according to your conscience. But how come you think that the US has a tendancy to socialise losses? I don't think that the shareholders of Bear Stearns (sold for $2 per share), Lehman Brothers (bust) , AIG ( preferred loan backed the entire assets of the company), Wachovia and WaMu (private sector rescues) or any other financial institution in the US would agree that losses have been socialised....at least not yet. Neither would the shareholders of UBS come to that nor the shareholders of Bradford and Bingley and Northern Rock (who is ahead of its repayment schedules on its government loan).
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