Collapse as a business, sure, but its portfolio probably won't go underwater. It's failing in a different way from a bank that takes on too many bad loans and c

Collapse as a business, sure, but its portfolio probably won't go underwater. It's failing in a different way from a bank that takes on too many bad loans and can't fund its liabilities. A merger with UBS was mooted once. Now it looks more likely UBS is waiting for it to fall completely and pick up the good bits on the cheap.