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by Rick Nason, PhD, CFA
Partner, RSD Solutions Inc.
Oswald Gruebel, CEO of embattled UBS is quoted in the paper saying that the recent loss at the firm could not have been prevented because, “If someone acts with criminal energy, then you can’t do anything. That will always be the case in our business.”
I understand that preventing criminal activity is extremely difficult, but criminal activity to the tune of $2.3 billion is something else. Where was the risk energy?
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