UBS buys credit suisse 🤯🤯🤯
End times are here surely... thus begins the era where these big banks become bigger and even harder to fail, meaning the governments will print the shit out of any currency to backstop them. So these bankers will make even riskier and stupider risks... all while small banks and shareholders get wiped out.. Tc: 220k Yoe: 4
Insane deal.. now to the fun part with cutting jobs and unifying business units
What concerns me is how much is going on in the background while we’re being told that our financial system is robust. Actions speak louder than words and the actions are becoming increasingly aggressive and frequent.
Wait 6 months. Took the same time for Lehman after Bear Sterns
So all regional banks in the US are also zombies banks ready to go under?
“Doesn’t need shareholder approval”, a dangerous precedent is being set here.
Why would investors invest in small banks going forward? Only invest in too big to fail banks so this won’t ever happen.
It’s more than that, tomorrow governments can intervene and sell Ford to GM for dimes on the dollar in name of maintaining “economic stability” without the approval of Ford shareholders. It’s basically “legalized” land grab. Well guess what lobbyists (of big and rich firms) are doing right now.
Not supporting or opposing this, but if you havent already do watch this documentary about the 2008 financial crisis and why the governments (Bush and Obama) had to intervene and how it was done. https://youtu.be/QozGSS7QY_U
Is Credit Suisse still a big player? I watched a video by Patrick Boyle and he said CS is the 155th largest bank as of right now
Was the ranking by market capitalization or assets held ?
Probably market cap, by assets it would be still quite large
Less competition within any industry is never good, especially financial infrastructure.
It's an insane deal, it will add 550b of AUM to UBS for just 3b.
Pretty small bank bro, not sure I would call it end times
Switzerland, one of the leading economies, 2nd and third bank merged! It's like jp Morgan chase buying bofa for pennies on the dollar while bofa shareholders get wiped out.
Shareholders getting wiped out is good, they'll be more careful where to invest in future and thus those future banks won't have the leeway to make stupid decisions cuz their compensation is majorly stock based.. why you so pissy about that shareholders losing everything??