UBS rogue-trading losses reopen old wounds

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The news that a single rogue trader, named in the media as Kweku Adoboli, had lost UBS's investment bank an estimated $2 billion will call into question whether the bank has responded adequately to previous rogue-trading cases. Adoboli, a director in the bank's European exchange-traded fund (ETF) and delta one trading team in London, was reportedly arrested today by London police on charges of fraud. In a brief statement, UBS said the loss was estimated at $2 billion and that the bank might n

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