Banking giant UBS is acquiring smaller rival Credit Suisse

Swiss president Alain Berset, who did not specify a value of the deal, called the announcement “one of great breadth for the stability of international finance. An uncontrolled collapse of Credit Suisse would lead to incalculable consequences for the country and the international financial system.”

Credit Suisse is designated by the Financial Stability Board, an international body that monitors the global financial system, as one of the world’s globally systemic important banks. This means regulators believe its uncontrolled failure would lead to ripples throughout the financial system not unlike the collapse of Lehman Brothers 15 years ago.

‘Forced”

Meanwhile Sienna Bank is flailing its arms screaming 'everything's fine'

Banking giant UBS is buying its smaller rival Credit Suisse for $3.2 billion in an effort to avoid further market-shaking turmoil in global banking. The Swiss Federal Council passed an emergency ordinance that allows the merger.

Buy gold. Paper money is going under.

UBS would buy Credit Suisse at CHF 0.5 per share, or 73% below Friday's closing price. Or... 99.4% below the 2007 top price. The most important question? What guarantees did UBS get from the Swiss government to take over this mess?

Credit Suisse is getting rescued because they blew it. They f'd up. That's what's going on.

monopoly

This acquisition may not go smoothly, leading to integration issues and potential layoffs. The combined entity may struggle to adapt to changing market conditions and face regulatory challenges, which could negatively impact the stability of the international financial system.

Last weekend it was SVB. This weekend it is CS. Who will be bailed out in the coming weekends? 'The issue which has swept down the centuries and will have to be fought sooner or later, is the people versus the banks.' - Lord Acton Why did Acton say that?

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Banking giant UBS is acquiring smaller rival Credit SuisseBanking giant UBS is acquiring its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday So, monopolization is the answer? What happens to Saudi’s investment One step closer to Nationalism of Banks!
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UBS is buying Credit Suisse in bid to halt banking crisis | CNN BusinessSwitzerland's biggest bank, UBS, has agreed to buy its ailing rival Credit Suisse in an emergency rescue deal aimed at stemming financial market panic unleashed by the failure of two American banks earlier this month. Can’t wait for black Monday tomorrow Capitalism at work Okay
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UBS agrees to buy Credit Suisse as regulators look to shore up the global banking systemCredit Suisse had already been battling a string of losses and scandals, and the last two weeks sentiment was rocked again. Wow, now it begins. Talk about making matters worse This will bring down UBS The regulators, ha! Someone give them a prize!
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