Sunday 19 March 2023 10:23, UK
British banking watchdogs have given their blessing to a takeover of Credit Suisse by its Swiss peer UBS, as financial regulators around the world race to contain the industry's biggest crisis since 2008.has indicated to international counterparts and to UBS that it will support the emergency transaction, which both European banking giants want to announce later on Sunday.
Although Credit Suisse has a market capitalisation of just $8bn - down from close to $100bn at its 2007 peak - fears for its future have sent shockwaves through financial markets across the world. Its vast investment bank balance sheet is reported to represent a stumbling block in the talks with UBS, and the precise structure of a deal remained unclear on Sunday morning.
But I don’t understand
Does that mean British taxpayers will be baling out the banks again?
14 years on and banks keep going bust and governments keep enabling their bonuses. Something has to change!
Exactly 👇
PEOWWWW $EURUSD ROCKET TIME, back on course for short term top test. All planned, all this shit.
Of course they have .. they're trying to stave of a total collapse of the banking system.