Matt Taibbi is quite right about the $2 billion of rogue-trading losses at UBS. Basically, investment banks hire for risk-takers; they shouldn't be surprised when this kind of thing happens.
from The Great Debate:
By Mohamed El-Erian
The opinions expressed are the author's own.
It is safe to say that there is broad agreement on what is most desirable for solving the Irish crisis -- namely a mix of domestic policies and external financing finely calibrated to enable the country to grow strongly, create jobs, stabilize the banks, and overcome large and mounting indebtedness.