There seems to be a "stuffy" attitude about the bank, which might possibly be passed on down from their European heritage and simultaneous pride. Such pride may also cloud judgment and proper assessment when needed. Take for instance the recent slide in credit exposures. During the summer of 2007, even upper level management truly believed UBS was on the right side of the market and that the company had little to no exposure to any such risky assets and/or credit. Nearly 40 billion in write-downs later, some members of management are wishing they hadn't spent their bonuses on "cheap" stock throughout the summer. This sort of blindness within the company, in addition to lethargic moves to remain competitive, provide ample reason to become skidding about the company and its direction going forward.