They got a bailout by snb as I already hinted before. "Exactly as predicted" 😉
https://www.washingtonpost.com/business/2023/03/15/svb-banking-credit-suisse-stocks/
Silicon Valley Bank scrambles to reassure clients after 60% stock wipe-out
- Thread starter RealDude
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https://www.washingtonpost.com/business/2023/03/15/svb-banking-credit-suisse-stocks/
Sure, still they will be here tomorrow and next year. Will be fun to read this thread in 5 or 10 years to see who predicted the truth 😉
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Indeed. My crystal ball tells me:
The big banks will all get bailouts, depositors made whole. Shareholders can get shafted if they have not already been and eventually could profit from the bailouts...
Fiat debasement and (semi) hidden high inflation will be the modus operandi.
Credit suisse is very important for the location its in, so no politician will want to let if fail and deal with the immediate fallout. It would result in many unemployed and many angry people who can vote.
This applies to every bank. High risk for specialized and small banks (like private banks etc which do not enjoy a big local footprint), there I can see a risk for only getting the FDIC-insured amount back since A) only a niche audience banks there which is often hated (rich or some segment like tech or crypto bros) and B) the 50 employees working there do not matter for the political process.
Well, they did.
https://www.cnbc.com/2023/03/16/cre...bout-54-billion-from-swiss-national-bank.html
How much longer will they survive? To be frank, this bank should have closed down a while ago. I remember how desperate they were when I visited their representative office in EG a couple of years ago and they explicitly said to me, "Don't ask, don't tell." I was surprised tbh. I'm used to dealing with tellers who behave similarly, but not so blatantly. smi(&%
You got it right thu&¤# Fair play.
I wonder how much of that credit line they will actually need bor&%#.
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