Who's the REAL Shareholder?

In remarks on the breakdown in the Swiss Bank UBS's risk management plan to the Swiss Federal Banking Commission, CEO Marcel Rohner said, “The problem was not a failure to appreciate complexity, but rather the opposite. It was a lack of simplicity and critical perspective, which prevented the right questions from being asked while there was still time.”

Excellent point, Mr. Rohner.  Here's another simple, yet critical question - for industry and government leaders alike:  Who's the REAL shareholder?

Here's a little illustration to help you think about that one...