UBS Admits to Rigging Rates

Thursday Dec 20 2012

UBS pays a $1.5. billion fine admitting it rigged LIBOR Rates. UBS stock is trading virtually unchanged. Does this mean investors are unphased by such revelations? Should they be?

This is another example of why we will be requiring accounting students to read the WSJ. To wit

UBS is an acronym for what entity? (hint once upno a time Swiss banks were admired for integrity)

LIBOR is an acronym for what?

Why would rigging the LIBOR benefit UBS?

UBS claims the 36 people invovled have now left UBS. Great where do you suppose they are now and what are they up to?

As I have been asking, what does it take to get kicked out of these clubs?

Professor Elam