FROM THE ARCHIVE: 10 years ago this week RUN UP TO THE FINANCIAL CRISIS

摘要

UBS fired its investment bank CEO last week while Merrill Lynch ousted its heads of fixed income and structured credit. Citi, Credit Suisse and Deutsche Bank joined UBS and Merrill in issuing third-quarter profit warnings but held off from management changes. The cost of the bubble in structured credit and teveraged lending mounted further as major banks announced mark-downs of more than US$15bn.