any opinions on this and possible impacts in Luxembourg? (posting again with a better context tweet. deleted the other one)

10 comments

  2. Again governments will have to tap in tax payer money and increase government debt to save banks that have been allowing huge leverage fora the past 10 years. This crisis will be worse than 2008 and we have learned nothing from 2008. If Credit Suisse explodes, Switzerland will follow so there is no other choice than increase debt.

  4. They are having the lehman moment , here the CDS owned by credit suisse are on a high just like as it was in 2008 and is showing signs of some critical environment in finance world

  7. I have no idea what any of this means? as long as my bank for savings and current account another list I guess it’s good…

  8. What does a single thing in this tweet mean? Should people who don’t care about finance be worried about something?

  10. 1) BCEE is (was ?) in the top 10 of world’s safest banks
    2) in Lux, your money is backed up by the state up to 100k€ in each bank where you have cash
    3) your stocks are are on custody at the bank, so you are still the owner and should be able to get them back whatever happens (just takes time and may requires proof)

    At least this is how I understand it, and I’d be glad to get feedback if there is anything is wrong.

    By the way, I wrote – years ago – a database app to manage a banks bankruptcy claims, contact me off you’re interested ;⁠-⁠)

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