UBS (UBS) May Face $18 Billion More In Write-Downs This Year
An analysis out of Citigroup says that UBS (UBS) could be forced to write-down $18 billion more of its $80 billion in exposure to subprime instruments and other debt which it holds on its balance sheet According to Reuters "We…
An analysis out of Citigroup says that UBS (UBS) could be forced to write-down $18 billion more of its $80 billion in exposure to subprime instruments and other debt which it holds on its balance sheet
According to Reuters "We estimate that the $80 billion remaining exposures could need 12-20 billion francs more markdowns in 2008," said the Citigroup note.
Since Citi (NYSE:C) is facing many of the same problems maybe it could do an analysis of its own balance sheet and publish how much analysts think it will have to write-down this year.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.