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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (351580)	12/21/2007 6:46:56 AM
From: MythMan	Read Replies (1) \| Respond to of 436258

exactly. banks are now meaningless.

To: Real Man who wrote (351580)	12/21/2007 6:51:33 AM
From: stan_hughes	Respond to of 436258

Well, at least somebody isn't very happy about getting new investors -- UBS faces shareholder revolt over $11.5 bln injection By Simon Kennedy Last update: 3:32 a.m. EST Dec. 21, 2007 LONDON (MarketWatch) -- Switzerland's UBS is facing a shareholder revolt over its plans for a cash injection from Singapore and the Middle East, according to a report in the Financial Times Friday. Ulrich Grete, head of the Swiss Social Security Compensation Fund, said the deal would disadvantage existing investors and also called on UBS to name the Middle Eastern investor who will own nearly 2% of the group, according to the report. Another investor has demanded a special audit to look at how the bank made such big losses, it added. The Financial Times also said that the Middle East investor is from Saudi Arabia and added Prince Sultan, the crown prince and defense minister, was believed to be a leading figure in negotiating the deal. UBS announced the capital injection of around $11.5 billion earlier in December after taking a further $10 billion of write-downs