>Switzerland, a country heavily dependent on finance for its economy
Really? Not as heavily as the world seems to think…
“The gross value added of the financial services industry amounted to around CHF 38.1 billion in 2020, which corresponded to a share of 5.64 percent of the total Swiss gross value added.”
Edit: Downvotes for stating sourced facts? Oh Reddit 😉
>Under the terms of the emergency takeover, investors of Credit Suisse’s additional tier-one bonds — widely regarded as a relatively risky investment — will see the value of their holdings slashed to zero. It means investments worth roughly 16 billion Swiss francs will become worthless.
Has this been done before?
What do you mean, it was “a commercial solution”? 😂
Where were the regulators?
I agree. But the US or EU are unfortunately no better. The world will be a financial banana republic so long as we don’t allow shitty businesses to fail.
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Clickbait bullshit.
>Switzerland, a country heavily dependent on finance for its economy
Really? Not as heavily as the world seems to think…
“The gross value added of the financial services industry amounted to around CHF 38.1 billion in 2020, which corresponded to a share of 5.64 percent of the total Swiss gross value added.”
Source: [https://de.statista.com/themen/3583/bankenbranche-in-der-schweiz/](https://de.statista.com/themen/3583/bankenbranche-in-der-schweiz/) (in German)
Edit: Downvotes for stating sourced facts? Oh Reddit 😉
>Under the terms of the emergency takeover, investors of Credit Suisse’s additional tier-one bonds — widely regarded as a relatively risky investment — will see the value of their holdings slashed to zero. It means investments worth roughly 16 billion Swiss francs will become worthless.
Has this been done before?
What do you mean, it was “a commercial solution”? 😂
Where were the regulators?
I agree. But the US or EU are unfortunately no better. The world will be a financial banana republic so long as we don’t allow shitty businesses to fail.
Good. Mountain bandits.