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Okay but the CS name and brand is worth mud now. No one is ever going to bank with them again after this? How is propping them up meaningfully different than le
by jimbob45 4y ago
Okay but the CS name and brand is worth mud now. No one is ever going to bank with them again after this? How is propping them up meaningfully different than letting them die?
- sschueller 4y agoBy the state taking over you are giving the bank what it needs which is new trust. The top management will be replaced and the state will not only guarantee the assets but also give the bank the trust it needs. The SNB tried to just give them money but as you said the name is so toxic at this point you need new management which is either UBS taking control or the state.
- cm2187 4y agoWhat about RBS in the UK, or Credit Lyonnais in France. People still bank with them.
- cowl 4y agoIt will continue to be used by the same customers. Swiss Nationals who don't have much choice and the tax evadors /drug lords/dictators who again chose it because they don't have many options. The legend of the Swiss Bankink System was based on this later type of customer because as quality of day to day service for normal people or business they have fallen far behind.