UBS: You’d Be Nuts To Do Business With Us


UBS’s romp through the Hall of Shame continues.

Earlier this year:

  • Senior managers criminally indicted for helping US clients use tax shelters
  • Sold “principal protected structured notes” from Lehman Brothers as conservative investments (now almost worthless)
  • Sold clients $25 billion of ARS as cash-like securities (later forced into settlement)
  • Massive writedowns for gambling on US mortgage securities
  • Government bailout

And today:

  • Tells clients it placed in Bernie Madoff’s Ponzi scheme that they’re on their own

See Also: Bernie Madoff’s Victims: The Slideshow