Observation. Watch those banks.
Stock price at high in June 2021 at $15; and at this writing, is $3.37.
Got up this morning to find global banking in the tank, led by Credit Suisse.
Hope everyone has cash. If you have a job and can keep it over the next year, you’re way ahead of the pack. I am NOT suggesting you should close any accounts, okay?
Credit Suisse and UBS
Credit Suisse is an unavoidably messy bank failure
UBS management and shareholders didn’t particularly want to buy Credit Suisse, while Credit Suisse management and shareholders certainly didn’t want their bank to be sold for peanuts. It’s unlikely this deal would receive shareholder approval from either side — which is one reason why Swiss authorities changed the law to enable the deal.
https://www.axios.com/2023/03/20/credit-suisse-unavoidably-messy-bank-failure
Axel Lehman - WEF
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