UBS = Ugly Balance Sheet

Apologies in advance for the Schadenfreude, but this joke is rather clever:

There are two sides to the UBS balance sheet - the left-hand side and the right-hand side. On the left-hand side, there is nothing right. On the right-hand side, there is nothing left.

Had to get this gag in now, as the bank’s CEO was quoted over the weekend as saying that they were “approaching the end of this episode”. Hopefully, anyone made homeless by this sub-prime crisis is in a similar position.

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