UBS is buying Credit Suisse in bid to halt banking crisis

CNN ^ | 03/1/2023 | Mark Thompson

[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,”

[Freedom4US]

If you think a Trillion in assets is smaller, then yes.

[Starboard]

The Fed acts to rescue it masters in the banking and financial industries under such justifications as “too big to fail” and “ensuring financial stability”. So they have created self-justifying excuses for doing whatever they want, moral hazards and ethics be damned.

What a scam.

[Honest Nigerian]

So that one-world-government in the part of the Bible at the very end? It is happening in our lifetimes?
Oh, Snap!!!

[wardaddy]

Fair number of trillion dollar banks in this world

Around 40 last count

Contrary to you reading my mind (a freeper tradition)I didn’t say they were small banks they certainly aren’t

I said I thought the buyer was smaller than the target

That does happen but it’s not as common as vice versa

However in reality they are fairly close in size best I can ascertain

Some sources show UBS slightly smaller others show it slightly larger

I did business with HKSBC and Credit Suisse and UBS once upon a time in Zurich and Vaduz

They were wonderful in accommodating me honestly

I’m surprised to see a Swiss bank in trouble usually they are squeaky fiscally