Swiss banking giant UBS announces deal to buy Credit Suisse for $3.2 billion in 'emergency rescue'
The purchase price is $3.2 billion, according to NBC News, and is expected to create the world's leading wealth manager with $5 trillion in invested assets, UBS said.
Soon there will be about 3 too big to fail commercial retail banks to chose from.
FedBank, EuroBank, CCPBank
See, we still have a free market!
when will NWObank in Ukraine merge those 3 together?
Merge? Gotta keep up the illusion that NWObank doesn't already own them.
The one with the big nose?
No, the ones with the crossdressing Aryan and the lesbian Indian Risk Manager.
I need to know who the first is
Philip "Pippa" Bunce at Credit Suisse
https://www.dailymail.co.uk/news/article-6195853/Credit-Suisse-boss-dresses-woman-slammed-appearing-100-women-list.html
how can I become a shareholder of a central bank?
Think again. When the music stops, there will not be a sufficient number of chairs for those that are left.
which family is the biggest shareholder of the Bank for International Settlements?
Settlements? Where? Do people already live in those areas?
Hmm. Can you provide more info?
If You Don't Like The Choices,...Go Build Your Own Bank! /s
FBI subsequently knocks down your door for money laundering.
Should I try my luck at Afrabank?
Great pay, in sticks.
Those are all the same bank!
I want a poster of the Titanic that says "Too Big to Fail"
Eventually just 1. The Federal Reserve
3.2 Billion? That’s like free. For a giant bank they might as well have paid a dollar.
That means the shareholders got the shaft. 3.2b is less than half of the trade value.
Now look at how many politicians bailed before stock took a dive.
Remind me how much Twitter cost?
To fucking much, but he bought it with overpriced tsla shares so its a wash in the end.
Tesla shares are undervalued. Their manufacturing processes are far and ahead of every legacy auto that hasn't innovates in a hundred years. Forget being an EV or FSD tech company, their margins are so good they're worth 3x the current valuation by 2030.
Lol.
Hey cousin 👋🏽
lol
They have the highest defect rate of any auto manufacturer. And 3x in 7 years isn't all that impressive for a single stock during high inflation that isn't dividend paying.
More than ten times that price.
Funny you say that: https://www.cnbc.com/2023/03/13/hsbc-buys-silicon-valley-bank-uk-protecting-deposits-.html
Right? I'm seeing $500 billion in "assets" and $45b in "total equity"
Not entirely sure what that means anymore lol but 5b seems to indicate there was overvaluing going on
They take the risk that they have bought a basket of disaster.
It's fine, this collapse is transitory
Is the politburo still denying we’re in a recession?
They should. I’m pretty sure it’s depression territory.
so is life
Looks like big banks are buying up small banks with all that money they defrauded us of during the coof.
Credit Suisse is a big bank. This one is the biggest takeover since all that Lehman stuff.
I await a volatile market tomorrow morning.
They will clean their portfolio and bankrupt middle class companies by tomorrow… That’s when it hits the real world.
"...GET ugly..."? Been there a while, fren.
Credit Suisse has been dropping majorly for 15 years . so i think national and huge private banks will swallow up all minors .
so maybe in a few years there will be 300 banks world wide
I bought my first decimals of Bitcoin when it was below $3k. Bought gold, when it was below 1.5
I just regret, that I didn’t buy more, much more.
The dollar will get watered down to a fragment of its value, so does the Euro and GBP.
They try to devalue gold by handing out paper gold…
I just wish, I would have gotten more of both, earlier, way earlier.
Nothing to see here, just the consolidation of purchasing power and being able to track people more easily.
be your own bank, buy bitcoin
What are you going to do when internet gets cut or electricity is not available? What can you currently buy with crypto besides a VPN or other intangible online services?
And what are you going to do when electricity cuts out at a bank? You think they have paper records of your deposits?
If there's no electricity then you don't need money, you need guns and ammo.
Indeed.
Real property remains, as it has for the entirety of the human race, the number one store of value and wealth.
They will take that away in the coming steps.
Higher taxes and higher energy costs.
They don't need to first thing they implement is strict rent control - privatize the losses due to their policy
Nope ... Gold worked
Gold, silver, copper... Plus brass and lead.
I can burn cash in a furnace, I can forge and cast some of the metal. I can't even see a bitcoin.
You'll never get your cash though. If you put it in a bank and electricity goes out, you have no cash and will never get it.
At least with crypto, when you do get electricity access, you immediately have your money and can transfer funds using Bluetooth. With a bank, you won't necessarily have access to any of your money even if electricity comes back up.
I have some of my cash. How are you going to get that bitcoin to me via Bluetooth if I don't have an account or wallet? Am I going to create one without internet and still receive it? Are you going to hand me a thumb drive and am I going to believe how much is on it?
I can give you a copy of the wallet I use via same way but you're correct. The ledger wouldn't be accurate; however, there's people working on using radio waves with crypto for solidifying the ledger. Interesting stuff.
In any event, why would I accept your money if there was no electricity or the internet? Money would be useless to me. In the event of total societal collapse banks and crypto are going to both be worthless, along with paper money. Guns and ammo will be at the top of the list of things that matter.
You can buy javelin missiles for about 20k in BTC. Pretty sure you have to go to Ukraine to pick them up though…
https://en.bitcoin.it/wiki/Myths#Bitcoins_are_worthless_because_they_aren.27t_backed_by_anything
Won't lose Internet globally
Bitcoin can buy a lot of things but is not yet widely accepted
Is more useful for transferring and protecting wealth. Be your own bank
Do both
I do
Everything is fine. 🔥
Yep.
UBS? The super corrupt bank caught laundering drug cartel money?
All the Swiss banks are like that.
UBS just stepped up it’s money laundering game, big time.
The reason that the Swiss government bailed out Credit Suisse is because they hold a huge number of Swiss mortgages. If they had failed, half of Switzerland would have to refinance their mortgages at higher interest rates and it would have led to a complete collapse of real estate values in Switzerland. They are printing money to float the real estate sector because it will be the mother of all crashes, making 2008 look like a warm-up rehearsal, when it all comes crashing down.
The current system does everything possible to award and incentivise speculative bubbles while also turning on the money hose everytime one of their bubbles burst.
This is just not a sustainable system. One of these days soon it will come crashing down so hard no amount of bailouts will be enough
I wish they'd hurry up.
The system will remain stable as long as people hold on to the faith that they'll be the ones getting a payout before it all goes tits up.
Human faith and hope lasts much longer than is rational
That's the plan
Its like a big circle jerk
Time we all demand that they do what Iceland did...
And the SNB supports the merger with another CHF 100 billion liquidity.
Vanguard buys vanguard in emergency rescue
First consolidation, then confiscation.
https://finance.yahoo.com/news/ecb-ready-help-banks-even-200635345.html Sunday meeting of the major central banks
Insure the depositors. Let the investors eat a shit sandwich on the loans.
But of course, this would be the actual capitalist move, not the Corporate-Socialist/Neoliberal/NWO/Whatever Label You Prefer move.
Don't insure anyone.
The price keeps changing.
Less than twitter
That's about $3.2 billion too much to pay for a bankrupt bank.
Watch the markets go down on Monday.
I wonder if this is to panic people into moving to too big to fail banks? Genius and evil if true
As you small bank might not get the protection that billionaire Silicon Valley gets.
We might end up with 3 banks then 2 then maybe 1?
I suppose diversity (of choice) in banking isn't "our" strength?
These swiss banks got bailed out by the swiss gov in 2008. The US Fed and other reserve banks have the printing pressing running at full steam.
We've all heard this story before. Sounds like it's got a lot in common with Bear Stearns.
We're on step 6 right now. Step 9 is going to suck.
Here's how it always goes:
I wish I'd kept them, but...my employer had a lot of money in Blackrock funds around 2008, and they were getting BR investment letters. The owner would post these letters like any of us had enough money to care.
Bob Doll, one of their (Blackrock) investment bankers, wrote that Bear Stearns was the bottom and they saw things improving from that point.
Then Lehman fell, Blackrock presided over one of the largest corporate mortgage defaults, and the rest is just words on a piece of paper in the landfill.
Tear it Down....cool new song by skid row
And as a reward, UBS gets a $100 billion dollar line of credit.
You read that right.
LET THEM FAIL
LOL
is Switzerland going to pay UBS $6B?
Pennies on the dollar. Government facilitated theft.
This is precisely what decentralized crypto was made to defend against.
so guaranteed deposits and big banks obtain all other banks for a song.
we have escaped calamity for now
how long and how till we get to the next phase in the NWO digital currency
An ancient symbol called an ouroboros came immediately to mind when I read this. The Ouroboros is a circle made up of a snake eating its tail. It is the symbol for wholeness, which could be a symbol meaning "the whole thing", I suppose.
In this case, I think the symbol of wholeness is achieved by tying a rock on the end of a string and twirling it so fast it looks like a whole circle. And that, maybe, is our banking industry, a little rock tied to a string looking like a powerful ancient symbol but really just an illusion.
UBS is likely fucked too if a bank run happens. This was their only choice to create a false sense of security.
Yeah....this will 1000% be effective in saving all the banks from printing up $Trillions out of thin air.
😉🤡🤪