So the solution to the banking collapse is to create even MORE too-big-to-fail monopoly banks? The corruption has gotten so far out of control at this point it's laughable.
Yes, the solution for a distressed bad medium-sized bank is for a larger good bank to buy them before they unwind chaotically have bring down other banks / the economy. That’s been the correct/reasonable approach for centuries.
No one is really getting bailed out here: CS shareholders will lose ~80% vs what they were worth a couple weeks ago, the AT1 shareholders got wiped out, and if you look at UBS’s share price, it’s not like people think they got an extraordinary gift from the regulators. UBS management at will have to suffer an enormous headache to integrate the operations.
The protest outside of Credit Suisse in Switzerland is about that
Specifically the variety of undemocratic processes to reach this result in the past and now. Federal Council overriding parliament and the population, specifically to override the potential will of shareholders in the company.
Where is the corruption in any of this? That is a strong accusation without any semblance of an argument.
During a downturn the stronger companies often acquire distressed competitors and consolidate. Evidence of corruption would be CS being propped up and executives allowed to pay themselves big bonuses. I'm not seeing anything like that, are you?
No one is really getting bailed out here: CS shareholders will lose ~80% vs what they were worth a couple weeks ago, the AT1 shareholders got wiped out, and if you look at UBS’s share price, it’s not like people think they got an extraordinary gift from the regulators. UBS management at will have to suffer an enormous headache to integrate the operations.