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UBS is basically buying an abandoned storage locker at this stage. At this point Credit Suisse is mostly junk and may be worthless but UBS might be able to find
by JCM9 4y ago
UBS is basically buying an abandoned storage locker at this stage. At this point Credit Suisse is mostly junk and may be worthless but UBS might be able to find a few things of value in there to make it worth their time and money.
Sad to see such a long-standing global company end like this. Credit Suisse suffered from years of terrible leadership and bad decisions so I suppose this is preferable to just an outright collapse.
- Jenk 4y ago$1b for Credit Suisse feels like they already did collapse and UBS are making an offer for the rubble.
- baskethead 4y agoIt's buying an abandoned storage locker with potentially leaking chemical waste that has could have been poisoning the ground water and killing people the next town over for decades.