2023-08-12 21:30:00
Two become one: Credit Suisse merges with UBS.
Photo: Ennio Leanza (Keystone)
On Friday it was announced that UBS immediately waived the billion-dollar guaranteesthat the federal government granted her for taking over CS. That’s good news, that’s amazing news. Certainly, the collapse of Credit Suisse remains an avoidable tragedy – and it would certainly have been better if the state had intervened in autumn 2022, perhaps a rescue of the bank would have been conceivable, and yet what then appears in February at five consummated before twelve, as the best option among the worst that had presented itself.
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#Column #Markus #Somm #Sunday #preachers #silent #weekdays
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– Sunday preachers who are silent on weekdays
The critics of the CS emergency operation are wrong. If we ever need the state, it’s in an emergency like the collapse of Credit Suisse.
Markus Somm