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Doesn't matter what UBS has written down. What would matter if the Swiss government needed to bailout UBS. On DB - it may well be, but the German government doesn't have the of bureaucratic expertise to do that. Plus a collapse of DB would create an ungodly mess in the entire German financial system which would likely shut down other banks. Credit, both consumer and business, would simply freeze up while the details of what to do were being worked out.
by MarekNYC on Sun Sep 21st, 2008 at 10:52:04 PM EST
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