Originally posted by BrilloPad
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Reply to: UBS just posted $10 billion writedown
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Previously on "UBS just posted $10 billion writedown"
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Originally posted by Chantho View PostI would guess that they won't, but they could if they needed and it wouldn't cost them any more than e.g. the Iraq war.
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Originally posted by BrilloPad View PostI still think cutting interest rates will save us.
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Originally posted by BrilloPad View PostI still think cutting interest rates will save us.
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Originally posted by wendigo100 View PostDoes anyone else get the feeling that this time we really are sliding into something horrible?
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Originally posted by AtW View PostIt's just a start. People have not started defaulting on their morgages to have banks take over their houses to put on market, and then big drops in house values - all this will make banks write off many more billions. Sub-prime market in the USA, apparently, is over $1 trln, imagine the write down if house prices drop 50%...
I wonder if house prices do drop significantly in the UK what effect this will really have other than on Daily Express readers, e.g. if your house was worth £200k five years ago, now worth say £400k, but drops back to £300k, you're still up on the deal.
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Blah-blah-blah
1 zillion trillion is b*ll*x. The truth is: WE DON'T KNOW - UBS has had more exposure in the securitized mortgages as they have different processes when assessing risk from someome like Nationwide BS. More risks = more rewards in that market. Generally, banks are playing the odds, however, unlike black-jack or roulette gamblers, the risk is pre-assessed and 99% they will only lose what they can afford to, in UBS case this is more than most. Don't panic.
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The same banks to which the government owes money to? perhaps a bit of you scratch mine and I'll scratch yours!
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Originally posted by AtW View PostIt's just a start. People have not started defaulting on their morgages to have banks take over their houses to put on market, and then big drops in house values - all this will make banks write off many more billions. Sub-prime market in the USA, apparently, is over $1 trln, imagine the write down if house prices drop 50%...
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