/biz/ - Business & Finance

so UBS raped them?

>>54203182
Bullish btc 100k end of month

>>54203182
And now the board of credit suisse is supposed to evaluate te offer, right? Will they take it? It’s below market value

>>54203203
>Will they take it?
lol
Vae Victis

>>54203203
they are literally changing the law so shareholders dont have a vote kek
>Swiss authorities plan to change the country’s laws to bypass a shareholder vote on the transaction as they rush to finalize a deal before Monday

>>54203296
Yeah... maybe it’s the best they can hope for, but the stock was trading at $2 so the market seems to have thought things aren’t quite that bad, or am I getting something wrong here

>>54203376
Lol how can they do this, and in switzerland of all places

>>54203203
Suisse already said it’s too low, Swissies might force it through anyway

>>54203182
So the share's price is going to dump hard... Is there a timeline where this ends good for Debit Suisse and the entire financial system ?

>>54203393
aren't they still a direct democracy?

>>54203182
0.25 kek

>>54203395
they were told to reject it by the saudis of all people

>>54203438
I’m not sure, they’ve made certain decisions based on direct voting by the people. But blocking the shareholders’ right to vote on the acquisition of the company itself sounds absurd.. how can the board even support the plan, they’re supposed to serve tha shareholders’ interest, and now they can’t even vote

>>54203438
probably a democracy until they have to do stuff they think are necessary like France for example

>>54203422
It's like a DUI checkpoint. There is no good ending. There is no upside, only downside. At best we keep chugging along.
That's what sucks about banking crisis - at least in a secular recession you can time the bottom and buy in, but our economies are so financialized at this point that every business cycle ends in a banking crisis.

>>54203438
they have a lot of referendums for a bunch of dumb shit

>>54203438
They're also geopolitically neutral and their financial policy is to never allow inflation through money printing.
They of course shitted on both of these just this past year.

>>54203511
It’s truly retarded, but this is what happened when you make immoral decisions. You go down an infinite rabbit hole of ever more ridiculous things you have to do to because of your earlier mistakes. They could’ve just let CS go bankrupt and UBS could’ve picked up the pieces. Then they could’ve bailed out the depositors like the U.S. is doing. Then CS shareholders lose 100% and everyone is happy.

>>54203422
This is the objective end of Credit Suisse. They can’t survive a panic that values them at 25 cents.
Either the government forces the merger and they no longer exist (UBS isn’t using their name kek) or this doesn’t happen and the stock goes sub $1 immediately tomorrow and then someone has to take it over as panic makes it collapse and the same end result happens.
Why do you think the arresting Trump media circus is coming out RIGHT now? Because this is it
>>54203450
Saudis will lose billions if this deal happens

>>54203199
IM COOOOOOOOMING

>>54203376
>Swiss authorities plan to destroy the country’s reputation for respecting property rights when it really matters

>>54203582
and i will lose 5.1K it's not much but i will still be pissed. I got my Bank account at CS but it's nowhere near from 100k so i don't really care. Funds are safu but the loss would still make me mad as fuck could have gone to vacation with my gf and splurge like a retard.

>>54203661
Why did you buy it?

>>54203659
They already destroyed their neutrality just to virtue signal. It's Europe, retards are in charge

when a company is acquired like this, does its stock ticker still exist afterwards or will it get merged with the UBS one? sort of a noob question, im basically asking what will this look like for the average joe, Robinhood using investor

>>54203199
wagmi wagmi bros can yo feel it

>>54203687
buy the fucking dip dude the swiss business is pretty good actually. It's only the international investment banking that was shit.
>>54203704
it still exists - buy you can't buy it anymore. If you hold the stock you will get a letter that says your shares will be sold at xx.xx.2023 for xx price.

Isn't a short free money now?

>>54203848
You need to find someone willing to buy in order to short stock.

>>54203422
I hope you don't hold any of their bags.

Does anyone have a chart of UBS' credit default swaps?
https://www.zerohedge.com/markets/ubs-offers-buy-credit-suisse-1bn-025-share-takeunder-cs-balks-offer

>>54203182
It looks like UBS is buying time, expecting the offer to be refused. There wasn't enough time to look into their cooked books and cross-check with their investment positions on derivatives and other risks. If I was the UBS CEO being pressured by SNB to buy it, I would also buy as much time as possible and let the stock market sort things out on monday.

>>54203848
No, no one will buy above the offer price when market opens.. those who already shorted are probably happy

>>54203199
>anything happens
this must be bullish

>>54203687
i bought 1 (one) shares of CS at $2.58 because I wanted to be part of history. Also, I like knowing that for the price of a mocha latte (1/2 of a mocha latte) at Starbucks, I find myself able to laugh at the Saudis who OWN 10% OF THIS SHITBERG KNOWN AS CREDIT SUISSE!!!!

This video of Saudi National Bank Chairman is priceless.

Panic over Credit Suisse is 'unwarranted,' Saudi National Bank chairman says
https://www.cnbc.com/video/2023/03/16/panic-over-credit-suisse-is-unwarranted-saudi-national-bank-chairman.html

>>54203422
no

black monday

>>54204196
>Also, I like knowing that for the price of a mocha latte (1/2 of a mocha latte) at Starbucks, I find myself able to laugh at the Saudis who OWN 10% OF THIS SHITBERG KNOWN AS CREDIT SUISSE!!!!
I don't own a single share and I get to do the same thing.

>>54204226
but now i am part of the story. I'm connected to Credit Suisse. I'll let you know what JP Morgan tells me tomorrow.

I think JPM, BofA survive what is coming.

Wells Fargo not so much.

I'm having flashbacks to 2008.

BREAKING NEWS:

SWISS AUTHORITIES ARE CONSIDERING A FULL OR PARTIAL NATIONALIZATION OF CREDIT SUISSE

https://www.bloomberg.com/news/articles/2023-03-19/switzerland-weighs-full-or-partial-credit-suisse-nationalization

>>54204196
>This video of Saudi National Bank Chairman is priceless.
>Panic over Credit Suisse is 'unwarranted,' Saudi National Bank chairman says

The Saudis fell for the myth of Swiss banking being rock solid

>>54203182
I bought 600 shares at $2. I knew the risks but I thought they’d get bailed. Shit happens

>>54203182
The Swiss governemnt is truly retarded. Truly, truly retarded

> Have two megabanks
> Announce on Friday evening you will look for "uncomplicated merger" of these two megabanks within 2 days
> Ask how much megabank is willing to give
> Megabank lowballs as they're the only one bidder
> Megabank 2 rejects

Yeah what the FUCK did the government think was going to happen?
Now even shitting on the foreign shareholders, refusing them to have a say. After they invested BILLIONS into this dumpster.

Again, what the FUCK did the Swiss government think was going to happen?

>>54204301
damn my nigger.

holy shit BTC buy signal

>>54204277
>
oh this shit is getting interesting now.

Can someone explain what all the hubbub is around this Credit Suisse stuff? Like this is just one fucking bank right? What's the big deal?

And why do all the video game store and baby stock holders seem to think that it going down is going to lead to their stocks squeezing and going to infinity?

>>54204267
It would be funny if CS fails and SNB decide to go after shareholders wealth to honor all the deposits. Zero is never the absolute low.

>>54204382
>Can someone explain what all the hubbub is around this Credit Suisse stuff? Like this is just one fucking bank right? What's the big deal?

Credit Suisse is a systemically important bank.

If it goes down, lots of other things break.

>>54204301
>I bought 600 shares at $2. I knew the risks but I thought they’d get bailed. Shit happens

they will bail this piece of shit out somehow, don't worry about that

>>54204331
It’s $1200. Fuck it. I’ve lost more on the craps table at the casino in an hour

>>54204382
Credit Suisse might have hundreds of billions of derivatives that won't be honored when expiration date arrive. That might be enough for you to understand what might happen to other banks who may have a paper linked to CS

>>54204505
How is it a systemically important bank though? Like I heard it is basically where all the Saudis and the rich Middle East folks keep all their money, but if they lose out isn't that just a fucking Kek?

>>54204555
>How is it a systemically important bank though? Like I heard it is basically where all the Saudis and the rich Middle East folks keep all their money, but if they lose out isn't that just a fucking Kek?

a systemically important bank would have lots of assets and liabilities with other major banks and it could potentially cause those other banks to fail if it failed

>>54204554
I looked and it is all the way down at 45 in total number of managed assets. Seems kind of weak to me.

>>54204382
There are around 32 systemically important banks worldwide, this is one of them
There are around 9 bulge bracket banks, defined as “the world's largest multi-national investment banks, serving mostly large corporations, institutional investors and governments”. This is one of those nine.
This isn’t some little ass SVB meme

>>54204590
So Credit Suisse is basically a Lehman it sounds like.

The problem in general in the financial system is that banks' assets are greatly overvalued currently.

For example loans to tech startups that are losing money and can't get more VC funding are worth nothing because they won't be paid back.

Securities based on mortgages on things like shopping malls likewise since the malls are all closing.

And there's a huge glut of office space.

Plus the major problem with 10 year treasury bonds now worth a lot less than the banks paid for them.

on top of all that, banks can't afford to pay customers decent interest so they are pulling their money and putting it in treasuries at 5% or money market funds.

banks are fucked basically and the system is about to collapse without major money printing.

>>54203659
Governments tha same.

>>54204277
>authorities seek to finalize a solution for the bank by the time Asian markets open, which is late evening in Europe
So just a few hours away

>>54204517
>they will bail this piece of shit out somehow, don't worry about that
Wouldn’t they technically have to do something to save the company before trading resumes Monday?

>>54204665
>Wouldn’t they technically have to do something to save the company before trading resumes Monday?

oh im sure some stupid plan will be glued together at the last minute somehow, it always is isnt it

>>54204655
>banks are fucked basically and the system is about to collapse without major money printing.
Sounds like nationalizing banks was part of the plan all along. So they can just make banks disappear relatively painlessly by “backstopping” depositors?

Richard heart should buy credit sussie for the keks

>>54204711
>Sounds like nationalizing banks was part of the plan all along.

its not planned any more than food shortages and the like are planned. the government has no wish to be bankers but they will if they have to.

>>54204737
He'll just rent it to convince you gay retards that he has any money.

>>54204136
>being pressured by SNB to buy it
?
I don't think SNB is looking to sell close to 20% at a 90% discount
the offer is trash and if it goes through looks to set an egregiously dangerous precedent, moreso than any other egregious action we've seen during the GFC

Pope rugpulled them.

https://www.catholicnewsagency.com/news/252093/pope-francis-instructs-vatican-entities-to-move-all-funds-to-vatican-bank-by-sept-30

"The Secretariat of State is known to have had accounts in Swiss financial institutions, including Credit Suisse"

>Bank is too big to fail
>So let's create an even larger bank!!!

Just nationalize the entire banking sector at this point, jesus.

>>54203704
you get paid out whatever the other company buys the shares at.

>>54205168
>Just nationalize the entire banking sector at this point, jesus.

that means we the people eat all the losses and we can no longer afford things like street lighting and roads

>>54203582
>Saudis will lose billions-
don't the Saudis only have like $1 Billion invested with this Bank?

>>54205292
>don't the Saudis only have like $1 Billion invested with this Bank?

they own almost 10% of it.

>>54203582
>Saudis will lose billions if this deal happens
Basado

>>54205383
>they own almost 10% of it.
The market cap was under 10 billion on Friday

>>54203182
fuck, my $1.9 CS puts expired friday

>>54205446
Saudi National Bank (“SNB") (1180.SR [1180.sr]) announced on October 26, 2022, that it was entering into a financial investment in Credit Suisse Group AG (CSGN.SW) (“Credit Suisse") for a consideration of up to $1.50 billion representing up to a 9.9% stake.

https://alahli.com/en-us/about-us/news/Pages/Oct-30-2022_News.aspx

>>54205454
>The market cap was under 10 billion on Friday

surely someone has a spare 10 billion kicking around to buy it. Elon?

>>54205471
They bought just a few months ago? Kek

>>54205597
Surely it will be cheaper on Monday. UBS offered 1 billion. That’s chump change.

BULL MARKET STARTS NOWWWWWWW!!!!!!!!

>>54204517
>w, don't worry about that
Man i hope so. I bought 25k shares of $CS at $1.90.

I guess I'm fucked.

>>54203530
Aren't drunks getting arrested and imprisoned before they kill a family of 5 on their way home from summer vacation upside?

>>54204988
Didn't you see the news? Swiss government want to pass a law to bypass UBS shareholder approval. They're literally shoving CS in UBS` ass.

UBS just updated the offer to 2 billion (0.50 cents). SNB will give an extra 100 billion in liquidity. The swiss goverment will pass a law to give UBS shareholders the middle finger.
https://www.ft.com/content/ec4be743-052a-4381-a923-c2fbd7ea9cfd

>>54203182
this is not even capitalism at this point

what the fuck are they thinking