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Old 10.10.2008, 13:54
lurking lurking is offline
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Re: How Safe is UBS

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FT today
"Reykjavik’s decision to default on the compensation it owes to foreign investors shows that, despite assurances by national governments, there is no such thing as a cast-iron guarantee.
Iceland’s failure to honour its obligations to overseas depositors is an extraordinary event. But, as long as the global financial crisis has further to run, there is no reason to think it will be unique."

Well written analysis; conclusion is - spread your money around several banks (keeping well within guarantee limits), gold bars, etc.
Exactly what you do with your money if you are a big business or other with millions or billions to keep safe is rather more difficult.

Marton
I agree as well. There are no guarantees in life apart from death. Looks like I will have to further split my money that I freshly moved to ZKB. Will be hard keeping track of all the cards.
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