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Old 13.10.2008, 20:02
JVC
 
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Re: How Safe is UBS

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What caused Kaupthing to fold was its financing structure and the implied leverage.
In which case, the UK government didn't need to resort to anti-terrorism powers. That is what I find disturbing.

But hang on a moment. I have memories of BCCI going bust in 1991, and if I remember correctly, a lot of local government authorities got burnt by that one. Same pattern, lots of folks got burnt, but we expected our local authorities to be prudent with their millions of public money. What happened that time
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