UBS Writes Down Another $5.1 Billion

UBS took another $5.1 billion of losses on mortgage related assets today.  I really don't know what I can say anymore about this firm.  I am in complete awe of their ability to lose money and destroy franchises in such a gargantuan fashion.  It's just mind boggling.  Anyway, I read the news of the latest writedowns and an image came to me, very similar to the image that came to Dan Aykroyd in "Ghost Busters".  From now on this is what UBS represents to me.