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(CNN)   Credit Suisse has 36 hours left. Stock up on that cocoa while you can   (cnn.com) divider line
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    More: News, Switzerland, Central bank, Financial crisis of 2007-08, Bank, UBS, Global financial system, Finance, Financial crisis  
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1278 clicks; posted to Business » on 18 Mar 2023 at 7:41 PM (6 days ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



35 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
NewportBarGuy [TotalFark] [OhFark]
6 days ago  
UBS will take them under. Shareholders will get wiped out. You'll stop them from collapsing, but the fear of people who own bank shares will accelerate on Monday and hit all the other banks.

This is just getting started.

Douche bank is up next.
 
leviosaurus [TotalFark] [OhFark]
6 days ago  
LOL - Headline is being updated as the countdown goes. When I submitted the link, it was 36 hours, now it's 24

/Subby
 
Carter Pewterschmidt [TotalFark]
6 days ago  
When you get an emergency $54 billion loan and you're still in trouble you know it's bad.
 
Jake Havechek [TotalFark]
6 days ago  
They don't have any Nazi gold left to use as collateral?
 
paulleah
6 days ago  

NewportBarGuy: UBS will take them under. Shareholders will get wiped out. You'll stop them from collapsing, but the fear of people who own bank shares will accelerate on Monday and hit all the other banks.

This is just getting started.

Douche bank is up next.


No. This is 95% people being scared and doing stooped things fueled by unnecessary articles like this..Even SVB was not in too bad of shape until the run.

A poorly run bank can go a long time until people get spooked.

People need to calm the frak down.
 
Snapper Carr
6 days ago  
The big question of course is, "how many minorities are on their board?"
 
waxbeans [TotalFark]
6 days ago  

paulleah: NewportBarGuy: UBS will take them under. Shareholders will get wiped out. You'll stop them from collapsing, but the fear of people who own bank shares will accelerate on Monday and hit all the other banks.

This is just getting started.

Douche bank is up next.

No. This is 95% people being scared and doing stooped things fueled by unnecessary articles like this..Even SVB was not in too bad of shape until the run.

A poorly run bank can go a long time until people get spooked.

People need to calm the frak down.


People aren't intelligent enough to wait and see. And our economy depends on that.  Except in this situation.  Go figure
 
NewportBarGuy [TotalFark] [OhFark]
6 days ago  

paulleah: NewportBarGuy: UBS will take them under. Shareholders will get wiped out. You'll stop them from collapsing, but the fear of people who own bank shares will accelerate on Monday and hit all the other banks.

This is just getting started.

Douche bank is up next.

No. This is 95% people being scared and doing stooped things fueled by unnecessary articles like this..Even SVB was not in too bad of shape until the run.

A poorly run bank can go a long time until people get spooked.

People need to calm the frak down.


We'll see this week. I'm not exactly looking forward to finding out.
 
dericwater
6 days ago  
Didn't something similar to this happened in Iceland and the government covered the depositers' money and put the bankers IN JAIL? Let's start putting people in jail instead of a nolo plea and a financial slap on the wrist. Put them in jail and never let them work in a position that would ever use any nation's currency symbol.
 
Phil McKraken [OhFark]
6 days ago  

NewportBarGuy: UBS will take them under. Shareholders will get wiped out. You'll stop them from collapsing, but the fear of people who own bank shares will accelerate on Monday and hit all the other banks.

This is just getting started.

Douche bank is up next.


Ok, Doomer.
 
leviosaurus [TotalFark] [OhFark]
6 days ago  

dericwater: Didn't something similar to this happened in Iceland and the government covered the depositers' money and put the bankers IN JAIL? Let's start putting people in jail instead of a nolo plea and a financial slap on the wrist. Put them in jail and never let them work in a position that would ever use any nation's currency symbol.


"We're putting you in jail for accepting a job at a distressed bank and failing to turn it around"
 
bzdrummer
6 days ago  
Fark user imageView Full Size
 
Snarcoleptic_Hoosier
6 days ago  

NewportBarGuy: UBS will take them under. Shareholders will get wiped out. You'll stop them from collapsing, but the fear of people who own bank shares will accelerate on Monday and hit all the other banks.

This is just getting started.

Douche bank is up next.


I might try my hand at buying. If the only thing is a collapse in value rather than insolvency, I'd take that risk to see if some easy money can be made in the panic.

I've held Ally and Mastercard for a few years for the dividends and I'm pretty happy.
 
Jake Havechek [TotalFark]
6 days ago  
Fark the Swiss.  It's good that the famed "anonymous banking of large amounts of money in accounts identified by number only" country is taking a hit, especially those bastards at Credit Suisse, but I'm sure they control a lot of money in Europe and America.
 
Mad_Radhu
6 days ago  

Jake Havechek: Fark the Swiss.  It's good that the famed "anonymous banking of large amounts of money in accounts identified by number only" country is taking a hit, especially those bastards at Credit Suisse, but I'm sure they control a lot of money in Europe and America.


Another good reason why they should go fark themselves:

https://www.voanews.com/a/swiss-president-defends-neutrality-ukraine-arms-ban/7001266.html
 
Captain Orr [TotalFark] [OhFark]
6 days ago  

leviosaurus: LOL - Headline is being updated as the countdown goes. When I submitted the link, it was 36 hours, now it's 24

/Subby


That headline is running like Swiss clockwork.

/ I think this whole thing is cuckoo.
 
Mad_Radhu
6 days ago  
Fark user imageView Full Size
 
SBinRR [OhFark]
6 days ago  
Where in the hell is George Bailey when you need him?
 
OptionC [TotalFark]
6 days ago  
There's zero chance that SNB lets them fail after putting in $54B.
 
Ivo Shandor [TotalFark] [OhFark]
6 days ago  
y.yarn.coView Full Size
 
Red Shirt Blues
6 days ago  
y.yarn.coView Full Size
 
Daer21
6 days ago  

dericwater: Didn't something similar to this happened in Iceland and the government covered the depositers' money and put the bankers IN JAIL? Let's start putting people in jail instead of a nolo plea and a financial slap on the wrist. Put them in jail and never let them work in a position that would ever use any nation's currency symbol.


Iceland took foreign deposits and used them to cover domestic ones. It's...a bad precedent
 
OptionC [TotalFark]
6 days ago  

Daer21: dericwater: Didn't something similar to this happened in Iceland and the government covered the depositers' money and put the bankers IN JAIL? Let's start putting people in jail instead of a nolo plea and a financial slap on the wrist. Put them in jail and never let them work in a position that would ever use any nation's currency symbol.

Iceland took foreign deposits and used them to cover domestic ones. It's...a bad precedent


Yeah.  Switzerland would presumably like to remain an international banking hub so they're not going to do that.  It's going to be a very straightforward bailout.
 
Parthenogenetic
6 days ago  
Solution: Swiss Army clogs

What's Happening with Credit Suisse?
Youtube q0So9sqLLfY
 
ongbok
6 days ago  
Serious question here. How is this Biden's and wokeness fault?
 
fragMasterFlash [TotalFark] [OhFark]
6 days ago  
The Doors The End
Youtube ZeMlQEWEg2Q


/and then he BAIL OUT'd down the hall..
 
Lsherm [TotalFark]
6 days ago  
These farksticks are going to cause another worldwide recession because they're all convinced they deserve to be rich.
 
leviosaurus [TotalFark] [OhFark]
6 days ago  
Whoa

According to the Financial Times newspaper, Credit Suisse customers withdrew 10 billion Swiss francs ($10.8 billion) in deposits in a single day late last week -- a measure of how far trust in the bank has fallen.

https://www.barrons.com/news/ubs-against-the-clock-in-credit-suisse-takeover-talks-be8b27ca

Talk about a bank run. Yow. Aren't the Swiss supposed to be imperturbable people, who don't pay attention to world wars and just work on their f$cking cuckoo clocks?
 
SafetyThird
6 days ago  
Eventually there will be one bank. The Bank of Taco Bell. Heil Queiro!
 
trerro [TotalFark] [OhFark]
6 days ago  

Mad_Radhu: [Fark user image image 425x238]


If you didn't keep committing trans-temporal bank fraud, you wouldn't have crashed Hyrule's banking system!
 
trerro [TotalFark] [OhFark]
6 days ago  

SafetyThird: Eventually there will be one bank. The Bank of Taco Bell. Heil Queiro!


Causing a different kind of runs doesn't make you immune to this kind.
 
paulleah
6 days ago  
$5 says some of these banks problems are due to their ties to Russia...both disclosed and more importantly, undisclosed.
 
LesserEvil [TotalFark] [OhFark]
6 days ago  

Carter Pewterschmidt: When you get an emergency $54 billion loan and you're still in trouble you know it's bad.


They move a LOT of money. I used to work at a "fintech" company, a very large mortgage lender, and one of my last projects there involved the getting daily credit lines that company needed from places like Credit Suisse, and the transactions were half a billion dollars daily so they could close home loans.

If these banks aren't able to provide the cash needed to make mortgage transactions happen, it will likely cause a nasty chain reaction. It's a house of cards, financially.
 
waxbeans [TotalFark]
5 days ago  

Lsherm: These farksticks are going to cause another worldwide recession because they're all convinced they deserve to be rich.


To be fair most people don't think their life is nothing but pure luck.

One of the few exceptions is Harrison Ford. And a few other people......
 
GaperKiller
5 days ago  

SafetyThird: Eventually there will be one bank. The Bank of Taco Bell. Heil Queiro!


I'm converting sll my savings to Canadian Tire money
 
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