Posted on 03/20/2023 11:09:44 AM PDT by dynachrome
Credit Suisse said 16 billion Swiss francs ($17.24 billion) of its Additional Tier 1 debt will be written down to zero on the orders of the Swiss regulator as part of its rescue merger with UBS (UBSG.S), angering bondholders on Sunday.
FINMA, the Swiss regulator, said the decision would bolster the bank's capital. The move reflects authorities' desire to see private investors share the pain from Credit Suisse's troubles.
(Excerpt) Read more at reuters.com ...
Ouch. Those guys are usually the ones NOT getting entirely screwed.
Good for the Swiss.
I would be angered on any day...................
>> The move reflects authorities’ desire to see private investors share the pain from Credit Suisse’s troubles.
Wow! Wonder where WE can get us summa them “authorities”.
MX must stand for “Mrs. Experimental.”
While we’re on a diet elimination roll, let’s declare all debt to China void. That’s a fight we can win! :D
Also expect large layoffs at Credit Suisse after consolidation. “Mx” Pips should be flogged.
Another screw job on bond holders just like O’Bammy did to those holding GM bonds. The government comes in a decides that the survival of a company is more important than the law and by edict says the debt holders are wiped out but certain favored groups will get/keep equity in the what survives as a firm.
Under the law the stock holders (owners) are supposed to be last in line. If a company cannot survive then sell it and if it can’t be sold liquidate the holdings. The proceeds of any sale/liquidation are supposed to first go to anyone who holds that company’s debt/loans. Then if there is anything left the former owners can get their pennies on the dollar.
The shareholders should have lost every penny before the bondholders were touched.
Mx. ???
I guess one needs to understand when a bond is not a bond. Wow.
You can go back to 2007, and see the downward trend on stock ever since. They never bounced back. Every year, they slipped a notch.
Those people who were buying shares back in 2016, and thinking it was a wise investment....were just screwing themselves.
Wow, those computer generated images are still not very convincing/lifelike.
Commercial and soveriegn bond investors will stay out of Swiss banks’ sponsored bond debt offerings. Swiss banks will diminish in international standings.
World 🌎🌍 Currency Collapse? More likely regional pockets (no pun intended)
World 🌎🌍 Digital Currency coming up?
Such will be necessary, IMHO, to administer the coming Mark of the anti-Christ Beast.
I was gonna ask: is that thing even real or a dude caked in make-up and a wig?
A bond is still an investment in a company.
Bondholders simply have the ability to stand in the front of the line, with the begging cup.
Many small vendors on GM’s Accounts Payable went under with payments never given to them for service/parts done & delivered.
It’s real:
https://www.newsweek.com/pips-bunce-credit-suisse-executive-gender-fluid-identity-bank-1788557
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