Art Is Dead Baby: The Tate Modern UBS 'Long Weekend'
After its sponsor UBS AG went into near financial meltdown, Tate Modern named this year’s UBS Long Weekend ‘Do It Yourself’ (22-25 May 2009) and based it around an Arte Povera exhibition. UBS is both a private and investment bank, as well as an asset management corporation. In the past it has been a major sponsor of the arts, but is unlikely to remain so for much longer. After incurring huge losses on subprime mortgage securities in 2007, UBS only survived after it secured a multi-billion dollar bail out from the Government Investment Corporation of Singapore (GISC) and an unnamed source in the Middle East.
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