Opinion: A Failure At All Levels

UBS faces a potential loss of $2 billion through the alleged actions of a rogue trader.

Proponents of enforced segregation between investment and retail banking couldn't have asked for a better end to the week. If, as charged, Kweku Adoboli's alleged unauthorized trades have cost UBS up to $2 billion, it's hard to see how any protests against the ringfencing suggestions made in the UK Vickers report can gain much credence in the public arena. This remains true regardless of whether or not UBS customers are affected.

Outside of the probable custodial sentence and certain financial

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