Switzerland’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. “UBS today announced the takeover of Credit Suisse,” the Swiss National Bank said in a statement.
Desperate to prevent the meltdown spreading through the global financial system on Monday, Swiss authorities had pushed hard for a private sector rescue, while reportedly considering Plan B — a full or partial nationalization. The emergency takeover was agreed to after a days of frantic negotiations involving financial regulators in Switzerland, the United States and United Kingdom.
For the market to achieve more liquidity, it must be channeled through the American people. Focusing on the profit margins of banks while disregarding the hardships of American families is a significant blow.
Idk about ya'll, but I've been in a crisis since 2008. This ain't stemmin my panic at allll.
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Building back better.
What?
How disappointing for all the people that are hoping for domino bank failures.
03-20 Putin's New World Order: Xi's Visit Shakes Up Global Stage
Please help me! My name is Lin donglong, an employee of China telecom fuzhou branch. Company manager huang fei (communist party of China) organized the leadership of the gang of evil forces brutal persecution: surveillance location, insult,abuse, framed to take nude photos of me
Nobody in the management is accountable😅
We don’t see how one ban on buying a failing bank for a discount signals that the problems are over. Bear Stearns went for pennies on the dollar last time but the problems didn’t go away for the entire system
Japan colonized Korea for 40 years, kept teenage girls as sex slaves, recruited teenagers into suicide planes, and refused to apologize for war crimes such as forced labor. Does Britain support Japan's act of imperialist aggression? Why does Britain cooperate with Japan?
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
they’re distracting the country w/a Trump indictment They’re *desperate* to get people to not focus on the fact that the US financial system is effectively insolvent Banks hold over $600 Billion in unrealized losses If everyone tries to pull money out, it collapses
In Bitcoin we trust. The banking system is broken. After 2008, now 2023. They say it is different but results are the same…. Bitcoin2023 Bankcollapse BankingCrisis
Where will be the stocks of the new UBS Bank at the end of the week? Higher? Lower?
Thick as thieves...
Tks UBS
USB is buying their debt as well, so this isn't clean sailing. It's a desperate mission, that may pay out in years to come if banks can weather the storm
Wow
The Swiss gov should bailout Credit Suiss instead of by passing shareholders to push the $3b deal through. Switzerland has thrived on their banking industry. Now it is time to pay back. Otherwise, the whole Swiss banking system will have no more credit to international investors
This won’t fix the systemic issues that these banks have created for themselves.
15 years of 'regulation' and here we are AGAIN!
Bailouts of banks with federal funds of millionaires is illegal ..it’s Fraudulent
Think it will work?
Great job. Next w b the entire Swiss banking system - being swallowed up by Putin’s n Jinping’s banks (ya - they own the banks in their respective countries). It’s part of the Plan.
Credit Suisse have been a basket case bank for some time, probably best scenario. Got to wonder how many stakeholders will end up shafted though.
Once again, courtesy of your Republican party....
What happens if you own credit suisse stock? Asking for a friend.
The country continues to decline.
Wow, big news in the financial world today! It'll be interesting to see how this plays out for both UBS and Credit Suisse.
karma pays cs tried to pull down adani group , god pulls down cs
March madness on
SVB invested in FTX. FTX Donates over 100 million dollars to the DNC. It's a digital bank robbery plain and simple and the DNC received stolen cash!!!
Man, what is going on with these banks?! I thought the banking industry was fine?
☹️
Catch a falling knife.
Who pays their debt? Watch closely folks, CS is the global bag holder for MMs and hedge funds and those bad bets need to be closed out. Watch the government , debts must be paid on bad bets not magically made to disappear! They shorted everything Archegos
Everything is absolutely fine
The matrix. This banks involved vs the banks not involved. Andrew was right all along. 😂😂😂😂😂😂😂.
The market is saved! Thank you biden! They bought a $80 billion dollar bank for $2billion dollars. Amazing.
This bring down UBS
Let's send more money to Ukraine...
Banks going bust is like deja vu
This is all going to be very bad. You think we had Have’s and Have Nots before?
Okay
Can’t wait for black Monday tomorrow
Capitalism at work
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