Credit Suisse takeover hits heart of Swiss banking, identity

traffic light signals green in front of the logos of the Swiss banks Credit Suisse and UBS in Zurich, Switzerland, on March 19, 2023. Analysts say the UBS takeover of embattled rival Credit Suisse has shaken Switzerland’s self-image and dented its reputation as a global financial center. They warn that the country’s prosperity could grow too dependent on a single banking behemoth.

traffic light signals green in front of the logos of the Swiss banks Credit Suisse and UBS in Zurich, Switzerland, on March 19, 2023. Analysts say the UBS takeover of embattled rival Credit Suisse has shaken Switzerland’s self-image and dented its reputation as a global financial center. They warn that the country’s prosperity could grow too dependent on a single banking behemoth.

When they confiscated Russian assets, they lost their credibility.

Let's be honest (almost) all banks are doing the same ! Regulations enough but ambitions are different it is here a question too what is most profitable only. Doing wrong and pay the fine. And more interesting, not registered as a criminal ! Just a criminal offence only.

I think Switzerland needs to come to terms with a LOT in terms of its banking identity. Plenty of terrible people have stashed ill-gotten gains in Swiss banks. For decades.

Hello

This jeopardizes everything it has built for centuries. Why didn't they intervene earlier .... We knew about the problem a long time ago.

Methinks they clutch at pearls when they damaged themselves for generations. ‘Neutrality’ while turning a blind eye and providing a safe financial harbor for criminals is not really neutral, is it?

It was only a matter of... time

We are saying the same thing in San Francisco

Global reputation as ethically corrupt tax haven, you mean?

Really Not even the fact that for decades, Switzerland allowed anonymous people to have secret bank accounts …helping drug trafficking and money laundering …🙄🙄🙄🙄

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Swiss economists question UBS takeover of Credit Suisse in pollA poll of Swiss economists found that nearly half think the takeover of Credit Suisse by UBS was not the best solution, warning the saga has dented Switzerland's reputation as a banking centre. This is still very risky. Swiss regulators might have been better to spend the time to do the digesting of Credit Suisse rather than quickly sweeping it under the rug to forestall panic. If Swiss keeps greedy for CCP bloody corrupted money, their banking system will end up like Credit Suisse according to the Murphy’s Law.
Source: Reuters - 🏆 2. / 97 Read more »

Swiss authorities reveal costs of Credit Suisse lifelineSwitzerland's 250 billion Swiss franc lifeline thrown to Credit Suisse and UBS could cost them more than 10 billion francs ($10.95 billion) in interest if used in full, Reuters calculations based on official data showed. It is priceless 🤡
Source: Reuters - 🏆 2. / 97 Read more »

Credit Suisse takeover hits heart of Swiss banking, identityThe UBS takeover of embattled rival Credit Suisse has shaken Switzerland’s self-image and dented its reputation as a global financial center, analysts say. That’s true that image couldn’t be restored. All caused by Biden and Isreal.
Source: ABC - 🏆 471. / 51 Read more »

Swiss anger will sour UBS’s deal of the centuryPoliticians and citizens are unhappy about job cuts and future risks arising from the bank’s $3 bln state-backed Credit Suisse rescue. Parliament fury may force returning CEO Sergio Ermotti to tweak the deal. Either way, an unsavory domestic whiff could hang over UBS for years.
Source: Breakingviews - 🏆 470. / 51 Read more »

Analysis: Future for shock-absorbing bank debt uncertain in Credit Suisse aftermathAs the dust settles on a surprise move by Switzerland to write down $17 billion of bonds under Credit Suisse's rescue, the market for debt designed as a shock absorber for banks faces a long haul to regain investor trust. They seized $20,000,000,000 of Russian money teaching everyone in the world a valuable lesson. Don't trust European or US banks. Just let it die in peace Time to look into MMTLP finra FINRAFRAUD bigger than SVB FTX CreditSuisse FacesOfMMTLP removeFINRAsro ReleaseTheBlueSheets GovRonDeSantis GovAbbott ewarren SECGov DOJPH IRS_CI marcorubio SenateDems SenateGOP
Source: Reuters - 🏆 2. / 97 Read more »