Swiss bank bailout turned poison into profit

by Matthew Allen,

October 31, 2013 - 11:00

When the final chapter of the UBS bailout closes in November, the bank accounts will show tax payers, ordinary account holders and small businesses as the chief beneficiaries. It’s been a success story that’s proven difficult to repeat elsewhere in the world.
Far from losing money on the $31.8 billion (CHF29 billion) rescue act, the government has already made more than a billion dollars and the Swiss National Bank (SNB) is expected to rake in around $6 billion. The bailout was once hailed by former UBS boss . . .


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