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?
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.
>Monday is going to be a mess
Futures open in 2 hours.
“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.