abc.net.au/news/ubs-backed-by-swiss-authorities-take-over-credit-suisse/102118096UBS will take over Credit Suisse, Swiss authorities said on Sunday , to help rescue the embattled lender.Switzerland's regulator FINMA said that there was a risk that Credit Suisse could have become "illiquid, even if it remained solvent, and it was necessary for the authorities to take action".
"With the takeover of Credit Suisse by UBS, a solution has been found to secure financial stability and protect the Swiss economy in this exceptional situation," the Swiss central bank and other authorities said. "An uncontrolled collapse of Credit Suisse would lead to incalculable consequences for the country and the international financial system," Mr Berset said.
Dr. Doom Mark Faber from Switzerland should know what happened with CreditSuisse
Just reshuffling the bad debt and trying to make it seem as though the whole financial system isn't just a Ponzi scheme. Next steps are financial system crisis, then a distraction for a war
Why? They want to take on all their debts? 🤷♂️
How will UBS will manage without the insights of this Credit Suisse director who has made the company what it is today?
Looks like they made a big mistake trying to go woke. Go woke, go broke.
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Source: FinancialReview - 🏆 2. / 90 Read more »