Yeah, because Switzerland has no social policies. Nothing at all. /s
this country being a banking country is new to you all this past week?
The Swiss state should have let the CS go down, so that every person who’s had their life savings deposited there would also lose everything. That’s how we’d show those greedy bankers and those rich asshole shareholders (80% are held by ordinary people) what we think about them.
You guys – u/TheNudelz, u/MaleficientIncome3948, u/TepanCH, u/Idontusespacebars – you are all my heroes. I love you so much.
I’ve been in the US during 2008 and yes, banking and financial industry greed is def a thing – but why do people always forget that the banks and exec boards don’t get punished, the little people do!??? They are the ones without millions in their banks who get their savings wiped out because of economic impacts?
I can tell you as someone relatively new to Switzerland – yes, there are flaws and yes, maybe I wear rose colored glasses – but your sense of community here is way higher than in a lot of other places. You care about your neighbors and people and those who are working hard and not just looking for easy get-rich schemes. Who appreciate what this country offers us, that is just not possible anywhere else.
Say what you want – but you guys do support right. Thank you for understanding the social support aspect of this whole messy situation
Socialize the losses and privatize the gains!
In this case I would support a nationalization of the failed bank. The state claims that the risk is bigger as when it stays private. But, I personally doubt it as the created monster bank still needs to be backed by the state (with a sum like 25% of the GDP). And this for an enterprise were the state has only limited control over.
In this case it is probably not socialist enough!
Why does she look like Theresa May
Once again, something that the media puff up and people believe they know better just like back then with Corona where everyone at once became immune experts. The CS is not since yesterday badly on the road. And the capitalization is guaranteed. That UBS takes over the CS was only a matter of time because the CS has simply slept through the Swiss business and wanted to be like Julius Baer an investment bank and the plan did not work out very simply. The question that must be asked is did UBS want the shares or was UBS forced by the Federal Council to buy CS?
But no matter how you turn it the SNB has done everything right because on the CS shorts and the rumors around the CS has only damaged the Zurich financial center and other financial centers such as London New York and Hong Kong benefit from it. Now UBS will become a mega bank bigger than Deutsche Bank and an even more important player as a pillar of the financial structure of our world. The SNB has acted as often times after the good will for Switzerland and you Swiss citizens and have done everything right.
I only feel sorry for the investors of CS who have let their money go to waste.
We should create a bank that only stores money tbh
this was foreign influence to sanction Switzerland and put them in line. A good occasion to get rid of some competition too. No surprise foreign institutions were in the closed-doors talks too..
It’s funny how every time it’s about lowering public transport prices, welfare systems or retirement funds it’s always like “oh we don’t have the money, oh our budget” but with cs they suddenly have 100’000’000’000+ to spare. Did they pull that out of a magic hat or something?
lets save a bank every 15 years totaly cool solution
This ⬇️ is what it means: The Swiss National Bank (SNB) is providing UBS with CHF 100 Billion in extra liquidity for its purchase of Credit Suisse.
When it comes to helping people, “money doesn’t grow on trees” but just think how it does “grow on trees” when it comes to helping badly managed banks who dig themselves into a hole.
I find this kind of drawings quite populist and lacking a simple willingness to think about the role of structural banks in our federative economy. Yes, it’s scandalous that erroneous management decisions are currently being covered by our taxes. But just take a minute and imagine the consequences of a CD bankruptcy. It’s not just a few hundred people directly employed by the bank who will lose their jobs, but rather tens of thousands, and sometimes from unexpected sectors like medical services, retail businesses, and small artisanal firms. You should consider the banks as the blood system of the state body.
I don’t even go further in greater consequences as impact of CHF, stability image of Swiss, and at the end requirements from external investment from Swiss Central Bank to raise the reference interest rate, and here my dear citizens your mortgage payment will hike the way you didn’t see in your nightmares.
So we can discuss about the morality of those rescue decisions but we also need to ask ourself as citizens what is the best from the worst for us as the nation.
This is embarrassing, being the “banking” country of the world this speaks how dumb and callous some banks can be but CS takes the cake.
You’re aware that isn’t free money, right? That it’s a loan, that gets paid back with interest, right?
Oh, for fucks sake.
I think avoiding economic collapse and the collapse in the value of the currency is in the interest of most folks in this sub
This bank is public and management (responsible for failure) will be fired … Than you are against people working in bank on normal positions? Or those that would loose jobs in companies that would go down as result of uncontrolled fall of CS ? It is exactly cash that snb will get back and is lent to help people, just those that work.
Upvote.. Return
According to Credit Suisse, it’s a merger… From their website:
“Following the intervention of the Swiss Federal Department of Finance, the Swiss National Bank and the Financial Market Supervisory Authority (FINMA), it was announced on Sunday, 19 March, 2023 that Credit Suisse and UBS have entered into a merger agreement, with UBS being the surviving entity. ”
Perhaps this is symptomatic of the situation they found themselves in. Divorced from reality.
Switzerland is just following international trends of being absolutely communist when it comes to losses of big companies and ruthlessly capitalist when it comes to own citizens.
Hold up here. Switzerland is a liberal democracy operating under the Subsidiaritäts principle. That means that it doesn’t “do” nationalisations of private companies but it does mean that the govt steps in when such companies cannot save themselves.
Beware of applying Anglo-American ideologies to Switzerland. If you are thinking of “going red” you probably don’t understand the Swiss political system.
Some people in Switzerland actively believe we would be better off if we joined the EU, if we gave up our army, and even convinced us to give up the secret banking, etc.
All of these ideas only weaken the nation.
Switzerland is the ONLY country in the world with a real democracy.
Citizens actually have power to change things. Look at France right now, does it look like a functional democracy to you?
It seems like none of those “woke activists” and socialist or “green” politicians that we hear and see all the time, really understand how Switzerland as a country had to adapt and become the wealthy and culturally rich country it is today.
Protesthantism has made Switzerland rich, plain and simple. While catholic churches revered in gold and corruption, protestants were reinvesting in the infrastructure and making the country wealthier.
It came from the people, not the government.
This is the time to re evaluate our options and seriously think, who has the power?
Think of COVID, not to disrespect any of the victims but some reports suggest the vaccines weren’t effective at all and were not even tested.
Sorry for rambling. Had to get it out.
Stay strong
Huh?
The Swiss have began sliding down the slippery slope.
bUt We wUZz tOo bIg tO fAIL
Why nobody is really talking about competition matters? Can you imagine another country having a bank of such magnitude after its combination? With a population of 9 million? 1.5 trillion in assets (equivalent to Russia or Brazil’s GDP?).
If I was the shareholder of another bank competing for the same business in Swtizerland I would definitely try to prove that this deal goes against a fair market economy.
I think that this deal is either of two things:
a) A poker bluff that just only buys time for something that is much bigger than what we know.
b) The BIS is starting its plan to nationalize the banking system and control capital flows via CBDC. That is the roadmap. It is not a bailout, it is the start of the nationalization of the banking industry.
The amount we would have needed on social services if credit suisse would have collapsed is far more than the 0.- the Bund has spent until now.
It‘s a shame what has happened in the past few years. „Leaders“ leading the CS into failure, big scandals etc. But yes they definitely deserved their huge boni! Now the ordinary citizens have to clean up the mess with their taxes! Great job! It’s time to change some things… Condolences go out to the employees of cs!
31 comments
Someone care to explain this comic to me?
Yeah, because Switzerland has no social policies. Nothing at all. /s
this country being a banking country is new to you all this past week?
The Swiss state should have let the CS go down, so that every person who’s had their life savings deposited there would also lose everything. That’s how we’d show those greedy bankers and those rich asshole shareholders (80% are held by ordinary people) what we think about them.
You guys – u/TheNudelz, u/MaleficientIncome3948, u/TepanCH, u/Idontusespacebars – you are all my heroes. I love you so much.
I’ve been in the US during 2008 and yes, banking and financial industry greed is def a thing – but why do people always forget that the banks and exec boards don’t get punished, the little people do!??? They are the ones without millions in their banks who get their savings wiped out because of economic impacts?
I can tell you as someone relatively new to Switzerland – yes, there are flaws and yes, maybe I wear rose colored glasses – but your sense of community here is way higher than in a lot of other places. You care about your neighbors and people and those who are working hard and not just looking for easy get-rich schemes. Who appreciate what this country offers us, that is just not possible anywhere else.
Say what you want – but you guys do support right. Thank you for understanding the social support aspect of this whole messy situation
Socialize the losses and privatize the gains!
In this case I would support a nationalization of the failed bank. The state claims that the risk is bigger as when it stays private. But, I personally doubt it as the created monster bank still needs to be backed by the state (with a sum like 25% of the GDP). And this for an enterprise were the state has only limited control over.
In this case it is probably not socialist enough!
Why does she look like Theresa May
Once again, something that the media puff up and people believe they know better just like back then with Corona where everyone at once became immune experts. The CS is not since yesterday badly on the road. And the capitalization is guaranteed. That UBS takes over the CS was only a matter of time because the CS has simply slept through the Swiss business and wanted to be like Julius Baer an investment bank and the plan did not work out very simply. The question that must be asked is did UBS want the shares or was UBS forced by the Federal Council to buy CS?
But no matter how you turn it the SNB has done everything right because on the CS shorts and the rumors around the CS has only damaged the Zurich financial center and other financial centers such as London New York and Hong Kong benefit from it. Now UBS will become a mega bank bigger than Deutsche Bank and an even more important player as a pillar of the financial structure of our world. The SNB has acted as often times after the good will for Switzerland and you Swiss citizens and have done everything right.
I only feel sorry for the investors of CS who have let their money go to waste.
We should create a bank that only stores money tbh
this was foreign influence to sanction Switzerland and put them in line. A good occasion to get rid of some competition too. No surprise foreign institutions were in the closed-doors talks too..
It’s funny how every time it’s about lowering public transport prices, welfare systems or retirement funds it’s always like “oh we don’t have the money, oh our budget” but with cs they suddenly have 100’000’000’000+ to spare. Did they pull that out of a magic hat or something?
lets save a bank every 15 years totaly cool solution
This ⬇️ is what it means: The Swiss National Bank (SNB) is providing UBS with CHF 100 Billion in extra liquidity for its purchase of Credit Suisse.
When it comes to helping people, “money doesn’t grow on trees” but just think how it does “grow on trees” when it comes to helping badly managed banks who dig themselves into a hole.
https://www.snb.ch/en/mmr/reference/pre_20230319/source/pre_20230319.en.pdf?ref=upstract.com
You mean like the flag ?
I find this kind of drawings quite populist and lacking a simple willingness to think about the role of structural banks in our federative economy. Yes, it’s scandalous that erroneous management decisions are currently being covered by our taxes. But just take a minute and imagine the consequences of a CD bankruptcy. It’s not just a few hundred people directly employed by the bank who will lose their jobs, but rather tens of thousands, and sometimes from unexpected sectors like medical services, retail businesses, and small artisanal firms. You should consider the banks as the blood system of the state body.
I don’t even go further in greater consequences as impact of CHF, stability image of Swiss, and at the end requirements from external investment from Swiss Central Bank to raise the reference interest rate, and here my dear citizens your mortgage payment will hike the way you didn’t see in your nightmares.
So we can discuss about the morality of those rescue decisions but we also need to ask ourself as citizens what is the best from the worst for us as the nation.
This is embarrassing, being the “banking” country of the world this speaks how dumb and callous some banks can be but CS takes the cake.
You’re aware that isn’t free money, right? That it’s a loan, that gets paid back with interest, right?
Oh, for fucks sake.
I think avoiding economic collapse and the collapse in the value of the currency is in the interest of most folks in this sub
This bank is public and management (responsible for failure) will be fired … Than you are against people working in bank on normal positions? Or those that would loose jobs in companies that would go down as result of uncontrolled fall of CS ? It is exactly cash that snb will get back and is lent to help people, just those that work.
Upvote.. Return
According to Credit Suisse, it’s a merger… From their website:
“Following the intervention of the Swiss Federal Department of Finance, the Swiss National Bank and the Financial Market Supervisory Authority (FINMA), it was announced on Sunday, 19 March, 2023 that Credit Suisse and UBS have entered into a merger agreement, with UBS being the surviving entity. ”
Perhaps this is symptomatic of the situation they found themselves in. Divorced from reality.
Switzerland is just following international trends of being absolutely communist when it comes to losses of big companies and ruthlessly capitalist when it comes to own citizens.
Hold up here. Switzerland is a liberal democracy operating under the Subsidiaritäts principle. That means that it doesn’t “do” nationalisations of private companies but it does mean that the govt steps in when such companies cannot save themselves.
Beware of applying Anglo-American ideologies to Switzerland. If you are thinking of “going red” you probably don’t understand the Swiss political system.
Some people in Switzerland actively believe we would be better off if we joined the EU, if we gave up our army, and even convinced us to give up the secret banking, etc.
All of these ideas only weaken the nation.
Switzerland is the ONLY country in the world with a real democracy.
Citizens actually have power to change things. Look at France right now, does it look like a functional democracy to you?
It seems like none of those “woke activists” and socialist or “green” politicians that we hear and see all the time, really understand how Switzerland as a country had to adapt and become the wealthy and culturally rich country it is today.
Protesthantism has made Switzerland rich, plain and simple. While catholic churches revered in gold and corruption, protestants were reinvesting in the infrastructure and making the country wealthier.
It came from the people, not the government.
This is the time to re evaluate our options and seriously think, who has the power?
Think of COVID, not to disrespect any of the victims but some reports suggest the vaccines weren’t effective at all and were not even tested.
Sorry for rambling. Had to get it out.
Stay strong
Huh?
The Swiss have began sliding down the slippery slope.
bUt We wUZz tOo bIg tO fAIL
Why nobody is really talking about competition matters? Can you imagine another country having a bank of such magnitude after its combination? With a population of 9 million? 1.5 trillion in assets (equivalent to Russia or Brazil’s GDP?).
If I was the shareholder of another bank competing for the same business in Swtizerland I would definitely try to prove that this deal goes against a fair market economy.
I think that this deal is either of two things:
a) A poker bluff that just only buys time for something that is much bigger than what we know.
b) The BIS is starting its plan to nationalize the banking system and control capital flows via CBDC. That is the roadmap. It is not a bailout, it is the start of the nationalization of the banking industry.
The amount we would have needed on social services if credit suisse would have collapsed is far more than the 0.- the Bund has spent until now.
It‘s a shame what has happened in the past few years. „Leaders“ leading the CS into failure, big scandals etc. But yes they definitely deserved their huge boni! Now the ordinary citizens have to clean up the mess with their taxes! Great job! It’s time to change some things… Condolences go out to the employees of cs!