3 ms·
This is the problem with banking - they mess up, get bought buy a competitor to sweep the problem under the carpet and kick the can down. this reduces competito
by fiftyacorn 4y ago
This is the problem with banking - they mess up, get bought buy a competitor to sweep the problem under the carpet and kick the can down. this reduces competitors in the marketplace. Eventually there is a state bailout
- worrycue 4y agoThere is already a state bailout. CS got loaned $54B. UBS got guaranteed another $100B loan for buying CS - and I read from another post (https://news.ycombinator.com/item?id=35222147 https://news.ycombinator.com/item?id=35222147) the state will cover up to $9B in losses from the buyout.
- fiftyacorn 4y agoI was including that - the issue to me is that banking needs better regulation to stop them getting into this situation in the first place
- Waterluvian 4y agoI wonder if there’s anything to learn from the Canadian banking industry, which, through regulation, basically didn’t participate in the 2008 collapse and seems to be in fine shape during all this. (Or maybe it’s not and we’re up next!)
- moltar 4y agoJust wait until the RE bubble collapse and we’ll see. There’s a ton of mortgage fraud not to mention the risk of defaults. Everyone is so strained.
- HDThoreaun 4y agoCS’s shareholders lost all their money. Most employees will be fired. I don’t see how this is a good outcome for cs at all.