Oct 23, 2008 - 20:27

Protestors target UBS and the "bank billion rip-off"

About 400 people gathered in Zurich and 70 people in Geneva on Thursday evening to demonstrate against UBS and what they call the "bank billion rip-off."

In a chorus of whistling and catcalls in front of UBS buildings, protestors expressed their anger over the federal government's SFr68 billion ($58.6 billion) rescue package for the country's largest bank.

Million-franc bonuses for bankers also came under fire.

Protestors demanded transparency in setting bank salaries and that no one be paid more than SFr500,000.

Both demonstrations were peaceful. The centre-left Social Democratic Party, the Green Party, and the Swiss Federation of Trade Unions organised the Zurich demonstration. In Geneva, the Communist party was also involved.

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