How much has the UBS brand been tarnished by what has happened over the past 18 months?
There are UBS-specific issues and industry-wide issues involved. We started the process of writing down the value of assets earlier than most because of particular exposures. At that point we were a bit of an outlier.
Now it is clear that the issues are much broader than UBS, and that puts our situation in perspective for a lot of people.
But clearly it is true that as a wealth manager, an investment bank and an asset manager, the results that we have produced have undermined our reputation.
What have you done to repair that reputation, and do...
