A little banking sunshine from Zero Hedge:  

"Housing is recovering. The Fed has your back. The consumer is healthy. All things that would suggest the commercial-mortgage bond business should be on the cusp of a renaissance. So the question is - what did Brett Ersoff and John Herman see, seven short days after being promoted to run the UBS real-estate finance division, that made them depart the venerable Swiss firm with the paintball sized Stamford trading floor?"

They came, they saw, they got the heck out of Dodge.   The trash on the bank's books was likely so bad that they anticipated either no bonus ( optimistic option), or being the fall guys for the disaster that was to follow all the trash on the books.

As one commenter said, the only thing that could make a Cyprus out of Switzerland is UBS.