I can understand using math and computer boffins to make predictions but this guy was not making predictions he was gambling millions within 5 years of starting as a trainee. Seems perfectly obvious he didn't know what he was doing. I would have thought only people with say 20 years experience would be allowed to make bets without supervision.
It just seems that bankers don't have any common sense. Any sensible company would have learn't lessons from recent history and put in some safe guards. Particulary UBS who seem to be worse than the RBS. Takes some doing that! Sir Fred isn't advising UBS is he? !hmmm!
UBS
-
andy at handiwork
- Posts: 4113
- Joined: Fri Jul 14, 2017 2:40 am
a bit of good news
It appears that the losses might be so great that, having wiped out a large part of the bank's profit for the year, there will be NO BONUSES for the buggers this year.
-
beutelwolf
- Posts: 1210
- Joined: Fri Jul 14, 2017 2:40 am
Re: UBS
Gusset Sniffer wrote:
> I can understand using math and computer boffins to make
> predictions but this guy was not making predictions he was
> gambling millions within 5 years of starting as a trainee.
> Seems perfectly obvious he didn't know what he was doing. I
> would have thought only people with say 20 years experience
> would be allowed to make bets without supervision.
Not a chance. Most traders are quite young, below 40 anyway.
> I can understand using math and computer boffins to make
> predictions but this guy was not making predictions he was
> gambling millions within 5 years of starting as a trainee.
> Seems perfectly obvious he didn't know what he was doing. I
> would have thought only people with say 20 years experience
> would be allowed to make bets without supervision.
Not a chance. Most traders are quite young, below 40 anyway.