UBS

Shareholder Report on UBS's Write-Downs

18.7bn USD of US residential mortgage related writedowns. The whole story is here [1]

I think this is a good thing to read through in order to get a handle on some of the technical issues. There will be things there that you don't understand and you can then ask me (or others) about them

By the way it got even worse than this. UBS are 2nd worst in overall subprime writedowns according to Wikipedia [2] with 37.7bn USD, second only to Citigroup (who are, at least, American)

But the publication of a shareholder report analyzing failures at least shows willing to address the problems. Would that all the major losers had done the same.