Uh, Jerker, one last question....

When you say that you went to the Board and told them that you "didn't want to receive" the bonus stipulated for 2008 by your Employment Contract and that you now "won't be receiving" a bonus for 2008 (like all your Investment Banking subjects unworthy of contracts), could you please clarify just a few things?

1.  Please verify that you have no prospect of receiving that 2008 bonus AT ANY TIME in the future.    In other words, verify that your 2008 bonus it is not merely 

a.  delayed; 

b. deferred; 

c. collectible when you leave the firm; 

d. otherwise to be paid under any circumstances...

...but in fact GONE WITH NO PROSPECT OF SEEING ONE QUID/DIME OF IT AT ANY POINT EVER.   

2.  Please verify that you RECEIVED NO NEW COMPENSATION for agreeing to forego the 2008 bonus

a.  no new cash payments or new option grant

b.  no new perquisites

c.  no new or amended employment contract

3.  Please verify that like all your colleagues without contracts for 2009, that you have NO CONTRACTUALLY-GUARANTEED compensation for 2009.

You have asked your Investment Bank employees to "make an investment" in the firm and you have professed to them that you "are all in this together."  It is only logical and fair--and the only scenario under which anyone can be asked to trust you--that your employees know that your interests are exactly aligned with theirs.  You must state very clearly that you are starting out at rock bottom alongside each of them and that you, too, will only be paid if the myriad contingencies regarding the Investment Bank, its divisions and UBS AG are satisfactorily achieved.