UBS Trader Loses $2 Billion In London Based Investment Division

This article is about the loss of $2 billion by a rouge trader in the London based investment banking division of UBS. The bank had increased its efforts to protect itself against such events but smart traders seem to find ways around compliance. The rewards to traders who game the system are enormous. For some traders the incentive to game the systems in place outweigh their calculation of the potential costs. In many ways, the casino-like atmosphere on trading floors attracts individuals with an instinct and taste for gambling.