To Matt Taibbi, the UBS news confirms that bank promises to throttle back risk in the wake of...

|About: UBS Group AG (UBS)|By:, SA News Editor

To Matt Taibbi, the UBS news confirms that bank promises to throttle back risk in the wake of being bailed out is just talk. "Investment bankers have huge appetites for risk ... this is the reason why the Glass-Steagall Act (was passed). It just defies common sense to have professional gamblers in charge of stewarding commercial bank accounts."