Swiss angry at UBS bonus pay-out for bank employees...

There has been a public backlash over a decision by Switzerland's largest bank, UBS, to pay out SFr2 billion ($1.77 billion) in bonuses after massive losses in 2008.

The head of Switzerland's financial regulator, Eugen Haltiner, is also under fire after defending the decision to approve the payments, made after a substantial injection of public money into the embattled bank.

The centre-left Social Democratic Party has called for Haltiner, the president of the newly-created Federal Financial Market Supervisory Authority (Finma), to step down.

"The bankers' arrogance knows no limits," the party said in a statement, describing the decision as "incomprehensible". More...

See also:

1. Credit Suisse loses Sfr.3bn, to cut 5300 jobs...
2. Switzerland: Protestors target UBS and the "bank billion rip-off..."
3. Credit crunch? Not for the fat cats...