Econintersect:  On 19 December 2012 the editors at Bloomberg called for the prosecution of executives at UBS for roles in the LIBOR (London Interbank Offered Rate) scandal.  The Swiss bank paid fines totaling $1.5 billion this week for their role in the… more »

Econintersect:  Another mega bank is making a cost of doing business payment to the Swiss bank regulator FINMA (Financial Market Supervisory Authority, FSA (UK Financial Services Authority)  and the U.S. Department of Justice and the CFTC (Commodities Fu… more »

On Friday the UBS Board of Directors gave CEO Oswald Grübel a unanimous vote of approval and urged him to stay on to address the future of the bank in the wake of the $2.3 billion rogue trader scandal that became public knowledge ten days ago. One day later Grübel resigned, releasing a statement that he was convinced it was in the best interests of UBS to approach the future with a new leader. more »

 Econintersect:  Mario Draghi, governor of the Banca d'Italiano, appears to be very high on the list of possible replacements for Jean-Claude Trichet.  Axel Weber, outgoing president of  Deutsche Bundesbank, has taken himself out of the running.  A candi… more »