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Pretty scary that our financial system can't take a few weeks of deliberation and the deal needs to rushed during the weekend. Instead of general ranting I wou
by bluecalm 4y ago
Pretty scary that our financial system can't take a few weeks of deliberation and the deal needs to rushed during the weekend.
Instead of general ranting I would like to learn who exactly goes bust if we allow the uncertainty for a few weeks? Is it more than just a gift to shareholders and market speculators?
- fancyfredbot 4y agoCS probably goes bust as everyone pulls their money out, and has to sell all of their assets at fire sale prices. If they lose more than their capital buffer then people may not get their money back. That then has knock on effects which are harder to predict but might include other small banks with exposure to CS (and in the worst case, even other large banks).