Banks withstanding the Sub-prime meltdown?
Just saw UBS take a huge hit this morning and I was wondering if anyone had any insight as to why some banks are getting smeared and others aren't. I know all (or most) of the banks have been buying into the mortgage backed securities market so why are banks like Citi, ML, UBS getting hit so hard and a bank like Lehman Brothers is not?
Just wondering if anyone had any insight. I've done some research but maybe you guys have some ideas.