UBS agrees to buy Credit Suisse for more than $3 billion

Swiss banking giant UBS has agreed to buy Credit Suisse for $3.2 billion, a fraction of the $8 billion it was worth on Friday. NBC News’ Allie Raffa has the details on the deal aimed at taming a crisis of confidence that is threatening global financial markets.

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  1. “Babylon will be captured; Bel will be put to shame, Marduk filled with terror. Her images will be put to shame and her idols filled with terror.’”

  2. I’m grateful to Maskoffaid for what they did for me they helped me with 1.4btc via bitcoin transfers

  3. I’m grateful to Maskoffaid for what they did for me they helped me with 1.4btc via bitcoin transfers

  4. the credit of swiss banking service is collapsed, those client who owns assets of 16b in credit went to 0 b,professional banking is over for swiss banking

  5. _“They will throw their silver into the streets, and their gold will become abhorrent to them. Neither their silver nor their gold will be able to save them in the day of Jehovah’s fury.—Ezekiel 7:19

    This system of things is rapidly coming to its conclusion-end. Its over 🎒🥾🥾

  6. Where 3.2 billion dollars come from ? I hope not from the money of people of their bank accounts 😂 😅

  7. isn't it strange, that the people acted 15 years long as nothing happened. But actually we never overcome the financial crisis of 2008!

  8. Western bankrupt them self will try bankrupt Rusian this so ironic comedy 🤣🤣🤣

    Slava Cocaina

  9. UBS is equally insolvent. Switzerland is masking this "bailout" of both Banks.

    But, not for long. The 100 billion backstop will not be enough. The 2008 warning has come to fruition. We should have just taken the hit back then…rather try to print it away

    Margin calls on a level never witnessed before will be triggered. A Bank holiday will be needed to temporarily stop the bleeding. Think: Cyprus.

    I already took 1 months worth of Cash out & hold Crypto. GLTA.

    P.S. The Banking crisis is not "phycological". Banks took almost all the cookies out the cookie jar (accounts), gambled and lost. COVID global economic shut down was the perfect storm.

    This situation is worse than 1929. It will lead to World War III/reconstruction/Crypto….or the Dark Ages.

  10. So, who makes up that four point eight billion dollars short? I am sure that UBS is not in the practice of losing money even through a sale.

  11. simplw question …were did thye get the money??? UBS???

  12. deja vu… this is like JPM bought Bear Sterns….. which bank is the next Lehman? look at what just happened when dumb Republicans thought it was good idea to de-regulate in 2018…

  13. "A historic" deal not "an historic deal. "

  14. still many will think Obama & Biden are different from Bush 😅

  15. How do you prevent a bank run ?! These were already treasury bonds … not “toxic” assets …

    Sure there was mismanagement on interest rate risk , but bonds are long term products … or is the old adage don’t put too many eggs in one basket the “advice” then 🤷🏻

  16. God bless the banksters.

  17. Still calling for review and reform after 2008.

  18. SVB drama is over, Credit Suisse is done. With all problems handled to perfection, now Fed can return to their task of interest rate hikes. 50 points are reasonable for March. As for the rest of this year, we did say peak rate should be 6%, right? We need to speed up and accomplish this task by 2023.

  19. Every lie we tell incurs a debt to the truth. Sooner or later that debt is paid

    “Dr. Legasov”

  20. For comparison Apple has $51 billion in cash reserves.

  21. Restore confidence? There is none

  22. Wow 3 billion is pocket change to some.

  23. All credit companies should go down, they scam desperate people into indentured servitude with their insane rate hike. Take a hike rate hikes, smash all credit servers, I hope the system collapses. The system is built for the rich.

  24. Of course it is a little to late for reform. Reform bills will only make it harder for the average person to get credit…just like last time. All the best.

  25. Jeremiah 50:37
    "A sword is against her🗽treasuries, and they will be plundered."

  26. Bring back real rules for mark to market accounting, If it's not too late !

  27. Get ready for the bulls**t

  28. Bankers are crooks

  29. BRICS is looking brighter and brighter!?