re: Swiss Government Just Stole All The Saudis Interest In Credit Suisse

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.