2012-12-25bloomberg.com

``To see the level to which UBS employees descended, one need look no further than their written communications, as per U.S. prosecutors' document dump. "Mate yur getting bloody good at this libor game," one broker told a UBS derivatives trader. "Think of me when yur on yur yacht in monaco wont yu."

But, then again, UBS and bad behavior have become nearly synonymous. During the financial crisis, UBS took writedowns totaling some $50 billion, prompting the company to produce a 76-page, single-spaced, Orwellian transparency report. "In the aftermath of the financial market crisis it was revealed," the report said, "that UBS had taken a serious turn in the wrong direction under the leadership of the senior management then in charge of the bank. The result was an enormous loss of trust." ''


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