Posted on 03/19/2023 11:45:32 AM PDT by BenLurkin
Swiss National Bank said in a statement. “This takeover was made possible with the support of the Swiss federal government, the Swiss Financial Market Supervisory Authority and the Swiss National Bank,”
(Excerpt) Read more at cnn.com ...
The consolidation of the global banking industry is in motion. In the end there will be a handful of giants, exercising a social credit score and digital currency. Be a good citizen, and you can participate. Be irascible, and you get Ungatz.
One vast and ecumenical holding company, for whom all men will work to serve a common profit, in which all men will hold a share of stock. All necessities provided, all anxieties tranquilized, all boredom amused.
They are paying $2 billion for a bank that was valued at $8 billion on the close Friday.
Monday is going to be a mess. How many US companies just got a haircut? And how will that affect earnings and reserves?
Thank you Mr. Beale, for your prescient rant!
Actually that was Arthur Jensen.
I thought Brandon Russia sanctions were supposed to crus Russian economy.
Backfired.
very good. Loved it!
Shareholders don’t get a vote on this. Ain’t that somethin’?
Most US banks are profitable. CS was losing a ton of money. But could see some weakness in bank stocks Monday. Could get a rally too, neither would surprise me. We might see both.
Yeah, that’s fun. Why bother owning shares? Our silly little monkey minds evidently cannot comprehend what the grownups are doing. Ha ha.
>Monday is going to be a mess
Futures open in 2 hours.
Shareholders don’t get a vote on this. Ain’t that somethin’?
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That’s right, the owners don’t get to decide now. So why own common shares in anything if you don’t have a say in how the company’s affairs are run?
“Monday is going to be a mess.”
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In normal times I would agree, however there’s no telling to what extent the Fed will go to to avoid a financial crisis now. They will do whatever it takes to avoid a mess.
Not saying I agree with that; its just recognizing how far we away from the usual constraints we are. There are no rules or constraints anymore. Just lots of lies and manipulation.
A lot of big money in the loop now wonder if tomorrows market will show how is buying what?.
They put U before the BS.
$19 billion in bonds just got written down to $0. Deflation anyone?
UBS is a smaller bank unless I’m mistaken
They own what used to be JC Bradford my old sec brokerage house
They’ve been doing “whatever it takes” for years now.
What happens when whatever it took ain’t enough? They invented all this wacky stuff, like “derivatives”, and other opaque products that are basically the equivalent of financial dogshit. I always thought the Swiss were the epitome of fiscal sanity and prudent lending etc.
A whole metric crapload of pension funds and others have their tentacles invested and involved, naturally. I’m sure everything will be fine.
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