Another day, another massive bank loss

Can our collective nerves can take much more of this stress?

The roll call of banks reporting losses continues. Today, it was again the turn of UBS, who reported a fourth quarter loss of £4.7 billion - some SwFr8.1 billion.

As each quarter passes, and as the losses keep piling up, it is becoming increasingly obvious that banks were rotten to the core. There was nothing there but smoke, mirrors and some very large bonus payments.

There are some banks, who in the last year, have reported losses equivalent to the profits they reported in the previous 30 years. During those years, bankers took away countless billions in salaries. Today, they have left it to the public sector to clear up the mess. We will be paying for these scams for generations.

It is so unjust, so outrageous that it can not stand.