by Calculated Risk on 12/09/2007 06:15:00 PM

From MarketWatch: UBS may announce writedowns - report

The board of Swiss bank UBS AG is holding an unscheduled meeting this weekend, and could announce more sizable writedowns on its subprime mortgage exposure as early as Monday, reports Swiss weekly Sonntagszeitung.

These unscheduled board meetings usually mean bad news.

The confessional is now open.