Holders of $17bn of Credit Suisse bonds wiped out under UBS takeover

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I'm guessing we won't hear a peep out of progressives about this. They are only angry about successful investments.

This may shift the system to a better place, but it’s the transition that can be difficult.

Here we go.

Ouch…that’ll leave a mark! 🤷‍♂️

'The market is likely to be shocked by such a blatant inversion of the hierarchy of creditors and by the decision to sweeten an equity deal at the expense of bondholder', this summarized the whole problem.

Hopefully all the Left wing Eco fanatics lost their 'fight' money

...easy come...

Purchase by UBS of Credit Suisse for 3.2 billion shows banking crisis all about govt intervention to save absurd crony capitalism & bad business models.Bad banking practice is defended in name of systematic risk as risk management is compromised for bizzare lendingpractices

Purchase by UBS of Credit Suisse for 3.2 billion shows banking crisis all about govt intervention to save absurd crony capitalism & bad business models.Bad banking practice is defended in name of systematic risk as risk management is compromised for bizzare lending practices

How long will you continue to lie to people... The American and European economy is getting incredibly bad. you can't hide it from people... banks are crashing... inflation and interest rates are rising.. people don't trust banks anymore

Well, peculiar coincidence that the Credit Suisse chairman’s name is “Lehmann”. Sort of rings a bell for bond holders….

Fractional banking systems clearly have failed, back to 2008 then?

Didn't UBS overtook Credit Suisse to build trust. What kind of Trust building is this

Domino Effect? What’s next?

Screw them

Kommt da noch eine 17 Mia.-$-Rechnung auf den Schweizer Steuerzahler zu? Übergehung und Enteignung der CS-Aktionäre durch den Bundesrat…

Pure coincidence the Fed is upgrading swap lines immediately, always does that on a Sunday afternoon.

Wiped out until Yellen and the fed cover it up.

Wipe out

I guess nobody will be going coco for coco bonds anymore. You can forget that quarter trillion market now.

I'm sure this will end well...

SkyNews did not mention, or cover this🤔

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UK regulators back merger of banking giants Credit Suisse and UBSThe Bank of England has told its Swiss counterpart and the country's two biggest banks that it will not object to an emergency merger, Sky News understands. Of course they have .. they're trying to stave of a total collapse of the banking system. PEOWWWW $EURUSD ROCKET TIME, back on course for short term top test. All planned, all this shit. Exactly 👇
Source: SkyNews - 🏆 35. / 67 Read more »