“For me, the debate nowadays is not ‘too big to fail’ - it’s rather ‘too small to survive,’” Ermotti said at a news conference this week. ”And we want to be a winner out of this.”
Blocher’s protégé, Ueli Maurer - who was finance minister until stepping down in December - championed a hands-off approach to banks like Credit Suisse to let them sort out their own troubles. Swiss diplomats, who have been intermediaries between Iran and Saudi Arabia since the countries broke off ties in 2016, were absent as China brokered an agreement this month to restore relations between the Mideast rivals.who is a former UBS executive in Colorado, upshifted the debate about how the European country interprets its idea of neutrality.
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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 »
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 »
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 »
Credit Suisse takeover hits heart of Swiss banking, identityAnalysts 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. The uncertain future of a union of Switzerland’s two global banks comes at a thorny time for Swiss identity, built nearly as much on a self-image of finesse in finance as on know-how with chocolate, watchmaking and cheese. Incoming UBS chief Sergio Ermotti says Switzerland needs a strong globally significant bank if it wants to be a financial hub. He says the issue isn't “too big to fail' but 'too small to survive.” 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 …🙄🙄🙄🙄
Source: AP - 🏆 728. / 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 »