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Swiss Government Just Stole All The Saudis Interest In Credit Suisse
Posted on 3/19/23 at 7:05 pm
Posted on 3/19/23 at 7:05 pm
Swiss government just broke the rules and forced UBS to buy Credit Suisse. No shareholder vote was held at all (Saudis own 9.8% of Credit Suisse) so expect the Saudis to be FURIOUS tomorrow. The west can just cancel your money at a moments notice, expect the Saudis to start pulling ALL their money out of western financial institutions tomorrow. We fricked
17
Posted on 3/19/23 at 7:07 pm to Catchfalaya
Thankfully all my investments are in dinar.
Posted on 3/19/23 at 7:09 pm to Catchfalaya
Yeah, but what does this have to do with LIV?
Posted on 3/19/23 at 7:09 pm to Catchfalaya
They should cut production a few million barrels per day
Posted on 3/19/23 at 7:09 pm to Catchfalaya
quote:
Swiss government just broke the rules and forced UBS to buy Credit Suisse. No shareholder vote was held at all (Saudis own 9.8% of Credit Suisse) so expect the Saudis to be FURIOUS tomorrow.
Since when did buying another company require a shareholder vote? Like never.
Board, yes. That could happen in a matter of hours.
Posted on 3/19/23 at 7:09 pm to Catchfalaya
The global
Elites are planning a world war to prevent losing control.
Elites are planning a world war to prevent losing control.
Posted on 3/19/23 at 7:11 pm to Catchfalaya
You mean 1 for 22 isn't a good stock swap?
Posted on 3/19/23 at 7:49 pm to Catchfalaya
Why would the saudis get pissed about getting a bailout?
Credit suisse was about to go under
Credit suisse was about to go under
Posted on 3/19/23 at 7:51 pm to Catchfalaya
Fear mongering loser mentality.
This post was edited on 3/19/23 at 7:51 pm
Posted on 3/19/23 at 7:52 pm to Catchfalaya
What the hell is going on?
Posted on 3/19/23 at 7:55 pm to Adam Banks
Because they just lost 75% of their value in credit Suisse due to the forced sale of Credit Suisse to UBS.
Posted on 3/19/23 at 7:56 pm to Catchfalaya
What would they have lost when CS failed tomorrow?
Posted on 3/19/23 at 7:58 pm to Catchfalaya
If you own 10% of a bankrupt company, you own 10% of zero.
Posted on 3/19/23 at 8:01 pm to Catchfalaya
Posted on 3/19/23 at 8:11 pm to Catchfalaya
quote:And they paid ~$1.5B for the position <6mos ago. So they lost 80% of that outlay.
Saudis own 9.8% of Credit Suisse
Posted on 3/19/23 at 8:11 pm to GetmorewithLes
It’s UBS that needed shareholder approval to buy Credit Suisse, not the other way around.
But the Swiss government circumvented their own law to get this deal done before the markets open Monday.
This is fine, everything is fine. Changing Swiss banking laws on a Sunday so the largest bank can acquire the 2nd largest bank at a more than 50% discount should not be alarming or cause any panic.
But the Swiss government circumvented their own law to get this deal done before the markets open Monday.
quote:LINK
The Swiss government is also expected to speed the deal up by waiving the six-week waiting period normally required before a merger, according to the New York Times, and Swiss authorities are not requiring UBS to get shareholder approval.
This is fine, everything is fine. Changing Swiss banking laws on a Sunday so the largest bank can acquire the 2nd largest bank at a more than 50% discount should not be alarming or cause any panic.
Posted on 3/19/23 at 8:20 pm to Lightning
quote:
should not be alarming or cause any panic.
What would have happened had the Swiss gov not circumvented the law and the second largest bank fails?
Posted on 3/19/23 at 8:47 pm to lowspark12
Well according to those involved, Credit Suisse would have collapsed and possibly triggered another global financial crisis. This was apparently Plan A, Plan B was nationalization of the bank. Though I would argue that since the government already injected over $50B into CS last week, that was actually Plan A and this UBS deal is Plan B. The Swiss government has also pledged another over $100 billion in liquidity to UBS/CS *and* guaranteed UBS against a substantial chunk of losses since they did not want to buy Credit Suisse and obviously didn’t have time to do due diligence on what they were getting themselves into.
Basically I’m saying neither UBS nor Credit Suisse wanted this shotgun wedding but the Swiss government is trying to save face because their 167 year old daughter is knocked up with toxic assets, had started to show and the neighbors were all talking.
Basically I’m saying neither UBS nor Credit Suisse wanted this shotgun wedding but the Swiss government is trying to save face because their 167 year old daughter is knocked up with toxic assets, had started to show and the neighbors were all talking.
Posted on 3/19/23 at 8:48 pm to Catchfalaya
quote:Their fault for having more that $250k?
Swiss Government Just Stole All The Saudis Interest In Credit Suisse
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