Reuters - Video

EDITION: U.S. | U.K. | IN

Breakingviews

Breakingviews: Others may take most of UBS Libor pain

Friday, Dec 14, 2012 - 04:21

Dec. 14 - UBS' $1 bln fine for Libor fiddling may make things worse for fellow rate-fixing miscreants, says Reuters Breakingviews.

▲ Hide Transcript

View Transcript

All of banks may take most of the UBS -- pain -- the top story in today's which is breaking views hit it took us through this one is assistant at a several articles. While that thank you so much for joining us I can't say the stories that house. UBS's reputation is or even damage so eight -- much less to it well with the. With this kind of -- The method lets get this up front these -- still early sources stories coming so widely reported receiving that is of Paramount my company cuts -- -- not -- -- the on -- despite his head but you know India has taken a big find him one billion Dulles apparently. A lot bigger -- -- please. Hoping involved in the same kind of libel -- and we see. And it's exit seems us that that I actually defeat the a UBS's skating a much bigger fraud in the but its reputation. For being associated with delightful. Perhaps isn't going to be hit as much as bulk of these walls. Body being so big for us. So boxes has taken a love fine but it's it cost that much more in terms of threat protection. You guessed it fat. His reputation isn't that progress the it does -- so that's why it's it. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- About wave and that was summoned -- -- several hundred million dollars a pound -- It is is just not not enough chump change it if if you -- and then that leads them to a -- really how how I think trying to you know upset these funds with the reference to -- what sort of damage has been -- It's I don't but the old really quite perplexing and and as a sort of quite a slew of I'm loss of one it is it is feel sorry for these banks or indeed -- are having to apologize. For the first for any bad idea but I think that unit in a repulsed world. We need some logic behind these kinds of funds and well maybe it'll come out my -- will see some reasons why UBS. If it is -- this amount of money in chronological Michael and policy yet. Closing the question is how long is insulting to take as while to finally put to lying. -- -- across in in the sun and if if you like what -- are contacts and been telling you. I think generations actually is -- any any genuine ounces no matter of months or weeks so he is the book but generations and I think that. It -- but this is doled out talking bankers -- and public enemy of some soul have been the subject of jealousy and and apprehensions. Actually I think that in the back into the turn -- -- -- would gradually. Beginning to sort of get some sort of acceptance. I'm Fred they've wasted little but run protection by becoming involved in. The -- that they they have -- and it. Because we you know how they gonna restore that of those generations public facing yet to prove that I have right. Straight forwards. Be useful source you salute to function in society and they did you know him. We need money to to -- to exchange and share wrong. Great gifts and talents. But but we also need bankers to be able to. Preval a money back into the system and to provide lessons and took. Help business but to be grounded but they need to be very -- and somebody else wants it. All of them excited and too overpaid. It swell level and watch and see when that golden age from 1910s. My thanks -- -- I'm back in session minutes to see why the Internet of things could -- -- -- less industrial revolution as switches on the road at eleven G. On and seen all -- base is --

Breakingviews: Others may take most of UBS Libor pain

Friday, Dec 14, 2012 - 04:21

Top News »

The Exchange »

Moving Pictures »