UBS in Trouble

"UBS considers Paine Webber sale in review: sources" - Yahoo! Finance.

Here are the juicy details:

UBS is under pressure from the Swiss financial watchdog and from one of its top shareholders, Olivant, to overhaul its business after more than $37 billion in writedowns during the credit turmoil.

Translation: regulators are telling UBS to raise more capital, because they're broke and they have more write-offs coming. This is another step down the road of capital getting harder and harder to raise. UBS is now being forced to sell of its good businesses at low prices while the losses get clustered in the remaining and weaker businesses. UBS is out of suckers to sell more equity to.