UPDATED 6:09 PM EDT — UBS Buys Credit Suisse for (only) $3.2 BILLION – less than $1 a share! There must have been very big and very nasty details on the books of Credit Suisse; UBS has agreed to buy its rival for only $3.2 BILLION. Prior, Credit Suisse has a Market Capitalization of about $7 BILLION. So the UBS buy is less than $1 a share! UBS agreed to buy its embattled rival Credit Suisse for 3 billion Swiss…
Nearly 200 Banks At Risk of Collapsing Just Like Silicon Valley Bank — Report “Even if only half of uninsured depositors decide to withdraw, almost 190 banks are at a potential risk of impairment to insured depositors, with potentially $300 billion of insured deposits at risk,” economists write. 186 U.S. banks are risk of insolvency and may collapse similar to the way Silicon Valley Bank went bankrupt last week, according to an international economic report. A study by four economists from top…
There are some serious rumours doing the rounds about a major bank failure October about to start with a disaster? ABC Australia is reporting that a major investment bank is on the brink, citing ‘a credible source’. Most are pointing towards Credit Suisse. It was caught out in the Archegos disaster and since then (Feb 2021) its share price has spiralled to $3.90 from $14.90. Moreover, the credit default swaps are at distressed levels. A memo from the CEO to…
