Calculated Risk makes a good catch on a MarketWatch rewrite of a rewrite of a German newspaper story reporting that UBS and Credit Suisse are likely to have to raise $68 billion in new capital. By our math, our post makes this information at least fifth-hand..

OK, I’m excerpting from a MarketWatch story quoting a summary by Agence-France Presse of an article in Sonntag quoting a Swiss parliamentarian. I’m sure all the details are correct!
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  • Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR's business section. If you see notable business journalism, give him a heads-up at rc2538@columbia.edu.