[ by Melanie Gretchen ]

UBS is circling the drain. There are as many news stories of UBS making amends for its previous transgressions as there are getting into further "hot water" with regulators and foreign governments.   Can the Swiss bank climb out of its hole?

Most of the alleged activity generating UBS's recent fall in the public eye began as far back as 2007, stemming from the financial crisis, from which few have been exempt.  However, as UBS loses lawsuit after lawsuit, setting precedent and further blackening the firm's reputation, it's looking less and less likely that the firm can get on its feet.

Here's just a sample of how the media's feeding into UBS's downfall:

• UBS Faces $1.6Bn Fine Over Libor Rigging. [reuters]
• UBS Fined $47.5 Million in Rogue Trading Scandal. [dealbook]
• UBS Faces Fight to Uphold Reputation Among Clients. [cnbc]
• How Not to Sell a Fund: UBS's AIG Failings Revealed. [ifa]
• UBS Is Going To Have To Hold A Telethon To Pay Off Its Libor Fine. [dealbreaker]
• Libor Manipulation: Another Black Eye for UBS. [businessweek]
• UBS's settlement sets a troubling precedent. [fiercefinance]
• UBS, The Big Bank That Can't Stay Out of Trouble, Shakes the City Again. [guardian]
• Kweku Adoboli: Is UBS Doomed? [ibtimes]
• UBS? In Trouble Again? [cubic]

In technical journalistic terminology, that's what's called "a field day."

Since the spate of legal action has begun, the Zurich-based firm has taken steps to improve its business and perception.  In our Who's News story, "UBS Chairman Proposes End to Libor Scandal" UBS Chairman proposed an industry-wide settlement for the rest of the banks accused in the manipulation of Libor, which would create solidarity among those charged with Libor manipulation – and dilute blame.  Since last fall, UBS has begun cutting hundreds of jobs.  Just last week, CNN reported that the bank will modify how it pays its bonuses to the 6,000 highest earners to limit the firm's exposure to risk and loss.

If that's news to you, it's because it's news to us: those details aren't at the top of any search list.  UBS isn't paying attention.  A trend is building and UBS is getting caught under.  Reputation is the most valuable asset on the Street, if you don't protect that, you're out.  You're nothing without reputation.