UBS chairman goes after huge losses

April 01, 2008

The Swiss bank wrote down an additional $19 billion in assets, bringing the total damage to $37 billion and giving the bank the top spot on a global list of those hit hardest by the credit crisis. But UBS was not the only bank with bad news, and Deutsche Bank, which had seemed to be little affected by the global credit crisis, also more than doubled its writedowns.Joanna Partridge reports for Reuters.Joanna Partridge reports for Reuters.