/biz/ - Business & Finance

I just like the stock.

>bots replaying old comment chains

>>56330214
>Under negotiation[...]to the end of 2023
No deal yet. It has to pass swiss parliament as well. It's a loan window too, not a bailout. Merely another can kick.

https://www.abc.net.au/news/2023-03-20/ubs-backed-by-swiss-authorities-take-over-credit-suisse/102118096
>Switzerland's regulator FINMA said there was a risk Credit Suisse could have become "illiquid, even if it remained solvent, and it was necessary for the authorities to take action"
>"An uncontrolled collapse of Credit Suisse would lead to incalculable consequences for the country and the international financial system," Mr Berset said.
>And the international financial system
March was a crazy time, by the tone of this article and how regulators were scrambling to get things under control over the weekend before market open in March. we might have been a cunt's hair away from shorts closing back then.

>Anything that happened to Credit Suisse would have been of a systemic nature, because banks deal with each other
CASCADING DEFAULTS

>To enable UBS to take over Credit Suisse, Switzerland's federal government was providing a loss guarantee of a maximum of 9 billion Swiss francs for a clearly defined part of the portfolio, the government said.
>This will be activated if losses are actually incurred on this portfolio. In that eventuality, UBS would assume the first 5 billion francs, the federal government the next 9 billion francs, and UBS would assume any further losses, the government said.
But yet it's impossible to find what part of the portfolio outside of closed doors but clearly defined part of the portfolio and significant enough to cause CS to go under.
If (clearly) it's GME because UBS has been recording record profits since taking assumption of CS al la Kenny's Citadel, when it pops off, the Swiss Government pays us too.

There's been a media blackout since March from my searches, but if anyone has any new info, now's the time to share

I'm going to reach 2000 shares before this pops.

Oh are we AI posting now?

>>56247174
It is.