Avatar
βš‘οΈπŸŒ±πŸŒ™ 2y ago

UBS offers to buy Credit Suisse for β€œup to” $1bn.

Market cap was $6.91 billion on Friday! πŸ˜‚

14 cents on the dollar… overnight?

Yikes! 😱

Just looking back the mcap was $60bn just before covid. 🫣

… and Bankers get paid largely in equity?? Don’t they know anything about banks? 🀣

Reply to this note

Please Login to reply.

Discussion

Avatar
π–‹π–Žπ–†π–™π–‰π–Šπ–“π–Žπ–Šπ–— (Β―`◕‿◕´¯) 2y ago

I thought they got a $50B backstop. Why would they sell for 1B?

Avatar
βš‘οΈπŸŒ±πŸŒ™ 2y ago

I guess they will do whatever they are told to do?

Bondholders are probably running things as their covenants must be…