UBS Receives a Bailout
October 16, 2008 by Page Perry, LLC
Switzerland has provided UBS a $59.2 billion rescue package. Switzerland is providing UBS with $5.2 billion and allowing UBS to put as much as $60 billion of risky assets into a fund supported by the country’s central bank. UBS has taken over $44 billion of write- downs and credit losses since the beginning of 2007.
