E.A. Viner International S-3/A Shelf registration (amended)

Exhibit 12.1

Ratio of Earnings to Fixed Charges

We present below our ratio of earnings to fixed charges, which is computed by dividing earnings, which is the sum of profit (loss) before income taxes and fixed charges, by fixed charges. Fixed charges represent interest expense, amortization of debt issuance costs, and an appropriate portion of rentals representative of the interest factor.

	Year Ended December 31,
	2011		2010		2009		2008			2007
	(Dollars in millions)
Profit (Loss) Before Income Taxes	$	17,848	$	67,991	$	37,067		($36,566	)	$	127,394
Add Fixed Charges:
Interest Expense(1)		38,026		25,750		21,429		39,137			56,643
Amortization of Debt Issuance Costs		986		643		1,164		1,227			1,218
Appropriate Portion of Rentals Representative of the Interest Factor(2)		16,994		16,793		16,853		15,687			11,036
Total Fixed Charges		56,006		43,186		39,446		56,051			68,897
Earnings		73,854		111,177		76,513		19,485			196,291
Ratio of Earnings to Fixed Charges(3)		1.3		2.6		1.9		—			2.8

(1)	Includes interest expenses on short-term borrowings including bank call loans, securities lending, and repurchase agreements which generally have a corresponding asset that generates interest income that substantially offsets or exceeds the aforementioned interest expense.
(2)	The percent of rent included in the computation is a reasonable approximation of the interest factor.
(3)	Due to the Company’s pre-tax loss in the year ended December 31, 2008 the ratio coverage was less than 1:1 in this period. The Company would have needed to generate additional earnings of $36 million to achieve a coverage of 1:1.