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>Another random thought: If even the Swiss can't keep it together financially we're in real trouble. The Swiss government(and the SNB) could have easily saved
by Silverback_VII 4y ago
>Another random thought: If even the Swiss can't keep it together financially we're in real trouble.
The Swiss government(and the SNB) could have easily saved Credit Suisse, but the politicians lacked the backbone to do so. They panicked at the first sign of trouble. Saving the bank was important for Switzerland’s image in the financial world, but it seems that they no longer care about their own country.
By letting a 167-year-old bank fail instead of simply buying it for 16 billion, they lost a lot of trust.
- kwere 4y agoCS is a branding liability, the trust in the name is abysmal, as withdrawals shows
- hnfong 4y ago> The Swiss government(and the SNB) could have easily saved Credit Suisse, but the politicians lacked the backbone to do so. They panicked at the first sign of trouble. Saving the bank was important for Switzerland’s image in the financial world, but it seems that they no longer care about their own country. All your assertions here fly in the face of reported facts. Anyone you talk to in the banking and finance industry would tell you that the failure of CS isn’t a recent thing, and there was no “panic at the first sign of trouble”, which would be YEARS ago. if widely circulated rumors (more reliable than your baseless assertions) are to be believed, the Swiss government basically forced UBS to save the failing bank. And why didn’t UBS want to buy CS at a discount? Because their liabilities are likely way more than the value gained from buying it.
- 988747 4y ago[dead]
- qwytw 4y agoWell they could just bought the brand name then? The rest of the balance sheet doesen't seem to be worth that much when you balance everything and the executives were clearly a huge net negative...