Someone remind me who it was that was pooh-poohing Paul with comments about 'Pokerspot'.week after the failure of two banks in the U.S. sparked concerns about other potentially shaky institutions in the global financial system.
'GENEVA (AP) — Banking giant UBS is buying troubled rival Credit Suisse for almost $3.25 billion, in a deal orchestrated by regulators in an effort to avoid further market-shaking turmoil in the global banking system.
Swiss authorities pushed for UBS to take over its smaller rival after a plan for Credit Suisse to borrow up to 50 billion francs ($54 billion) failed to reassure investors and the bank’s customers. Shares of Credit Suisse and other banks plunged this
Credit Suisse is among the 30 financial institutions known as globally systemically important banks, and authorities worried about the fallout if it were to fail.and the international financial system.”
The deal was “one of great breadth for the stability of international finance,” said Swiss President Alain Berset as he announced it Sunday night. “An uncontrolled collapse of Credit Suisse would lead to incalculable consequences for the country
Switzerland’s executive branch, a seven-member governing body that includes Berset, passed an emergency ordinance allowing the merger to go through without shareholder approval.'
https://apnews.com/article/credit-suisse-ubs-bank-collapse-svb-swiss-1a06bc96cbca9be4fbfd20a8f008ab8f
Switzerland’s executive branch, a seven-member governing body that includes Berset, passed an emergency ordinance allowing the merger to go through without shareholder approval.'
https://apnews.com/article/credit-suisse-ubs-bank-collapse-svb-swiss-1a06bc96cbca9be4fbfd20a8f008ab8f
A very bad sign of the times.
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