Normal
there have been hints/rumors about Credit Suisse for years , now whether that was malicious gossip by a rival/competitor or a disgruntled client ( or 'trickle truth ' ) is yet to be fully disclosed , interesting that the low-ranking bond/hybrid holders got wiped out and not converted into shares ( since UBS is doing an all scrip deal ) and everyone else got a compromise deal similar folks holding low-ranking debt elsewhere should be increasingly alarmed ( especially when UBS shares was a cheap consolation prize .. aka more picking winners )now getting shares in a previously rescued ( in the GFC ) bank , might not be the greatest consolation prize , considering BOTH the largest banks in Switzerland have needed radical rescues within the last 20 years .one might then ask if anyone with serious money should leave any of it in Switzerland will be interesting times going forward
there have been hints/rumors about Credit Suisse for years , now whether that was malicious gossip by a rival/competitor or a disgruntled client ( or 'trickle truth ' ) is yet to be fully disclosed ,
interesting that the low-ranking bond/hybrid holders got wiped out and not converted into shares ( since UBS is doing an all scrip deal ) and everyone else got a compromise deal
similar folks holding low-ranking debt elsewhere should be increasingly alarmed ( especially when UBS shares was a cheap consolation prize .. aka more picking winners )
now getting shares in a previously rescued ( in the GFC ) bank , might not be the greatest consolation prize , considering BOTH the largest banks in Switzerland have needed radical rescues within the last 20 years .
one might then ask if anyone with serious money should leave any of it in Switzerland
will be interesting times going forward
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