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Description:  Fictitious trading and brazen gambling by a single individual could have brought down the Swiss financial giant UBS, a British prosecutor said on Friday at the trial of a former bank employee accused of causing a multibillion-dollar trading loss.

Source: NYTimes.com

Date: Sep 14, 2012

Link:  http://dealbook.nytimes.com/2012/09/14/as-his-fraud-trial-opens-ex-ubs-trader-is-accused-of-brazen-gambling/?ref=business

Questions for Discussions:

  • Summarize the highlights of this case.
  • What does this report say about individual and corporate responsibility for actions on the job?
  • Where would you lay blame for this fiasco?
  • How would you expect investors respond to this report?

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