UBS is a bank in trouble. After losing billions on bad mortgages, they respond with a dress code that dictates the color of women’s underwear and the shaving habits for men. Talk about missing the point! Now a ‘rogue’ trader takes them to the cleaners for another $2.3 billion. Their CEO has created a culture of arrogance that fosters incompetence but he doesn’t think it’s his fault. Classic case of denying responsibility when things go bad (but we’re sure he’ll take all the credit when things turn around). Short answer…throw the bum out!
UBS is a real work of art
With losses that have at their heart
A focus on looks
Instead of their books
Cause they’re only just dressing the part.