UBS Was Quietly Bailed Out in 2008; Now It’s Getting a $173 Billion Backstop to Buy Credit Suisse at 82 Cents a Share
by Pam Martens and Russ Martens, Wall St On Parade: Yesterday, the Swiss banking giant, UBS, agreed to a shotgun wedding with its collapsing long-time Swiss rival, Credit Suisse. Switzerland has committed $173 billion in loans and guarantees to the combined firm. A key player in this deal was the central bank of Switzerland, the Swiss […]
Source: https://www.sgtreport.com/2023/03/ubs-was-quietly-bailed-out-in-2008-now-its-getting-a-173-billion-backstop-to-buy-credit-suisse-at-82-cents-a-share/
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