The UBS Circus in town

The loss by the trader Kweku Adoboli, has ballooned to $2.9b. GIC is demanding that UBS takes firm action to deal with the problem. The CEO, Oswald Gruebel is asking the board of directors for permission to restructure the banks investment arm. This is like after Mas Selamat had escaped and everyone responsible was calling for corrective actions when the actions should have been taken before it