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LETTER TO THE EDITOR: Will Obama offer UBS a bailout, too?

- The Washington Times - Wednesday, September 21, 2011

Any naive soul who might have believed that the financial crisis of 2008 triggered reform and prudence in the banking industry was surely disabused of that silly notion with the news last week of the alleged $2 billion swindle of UBS by a rogue trader ("Rogue trader causes $2B loss at Swiss bank UBS," Web, Sept. 15).

Astonishingly, the company did not happen to notice that this vast sum was going out the door until it was too late. I wonder how long it will be before President Obama proposes a $2 billion bailout for the company to indemnify it from its stupidity and lack of common sense.

OREN M. SPIEGLER

Upper Saint Clair, Pa.

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