Comments by "Samson Soturian" (@samsonsoturian6013) on "The End of Credit Suisse" video.

  1. They weren't all into money laundering... Although it seems like they were all involved in either something scetchy or high risk.
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  2. @Zandaroos I don't know about that. It's super strict in both areas. In the US, you can't even own 5% of a bank without passing a Federal background/credit check.
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  3. That's silly. There's billions of people that need a banker and this industry favors economies of scale. I.E. Getting 10 times bigger means operating costs go up by less than 10 times. Ergo, you will always have a few banks that rise to dominate a given economy.
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  4. Come on. We all know you'd say that no matter what they did.
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  5.  @unconventionalideas5683  Heck, the biggest shareholder is the Saudi government... Which makes me suspicious why shareholders are favored over bondholders.
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  6. What about it? Any sane bank was hedged against rising interest rates.
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  7.  @whilhelmtell6667  No, they gave equity funding until they reached a 9.9% stake and then said they wouldn't give more. The next largest shareholder is Blackrock at 4% and they hold it as part of many of their investment funds. Crossing the 10% mark would mean the Saudi government would get audited, and those guys have been knifing each other for ages (not a metaphor). Also, part of the contract UBS signed was that the Swiss promised they would not be held liable for any additional funny business they found within Credit Suisse. And they're buying it for less than its liquidation value. In fact, they bought it for the price that an average healthy regional bank is valued at.
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  8. No one is getting bailed out
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  9.  @whilhelmtell6667  We literally didn't, and I wouldn't give a fuck if we did.
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  10.  @whilhelmtell6667  You British? And no, a bailout is normally defined as an emergency loan.
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  11. @Whilhelm Tell  Dude, I understood the Swiss really did bailout UBS in 2008, but that is because they wanted at least two major banks. In this case they organized UBS buyout of Credit Suisse and ordered bonds to be canceled instead of shares. I think the Saudis bribed/threatened them. You see what the difference is between spamming the same old bull and actually looking for legal abuse is?
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  12. It was a private comoany
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  13. How much did you lose?
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  14. Lobbying is not a factor in banking regs, saying otherwise is castration worthy libel.
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  15. Golden parachutes only apply when execs get fired, and bonus are a cut of the profits. Right now, they all just want to keep their jobs through all these layoffs.
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  16. It was literally everywhere
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  17. @Zandaroos The whole reason regional banks face regulation is because they can't afford to hire an entire internal audit department in order to face the regs big banks face...
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  18. How much did you lose?
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  19. Do you have any idea how much regulation there is on commercial banks? Travelers checks are almost exclusively issued by US banks because banks in countries with loose rules would rather not let US citizens do business than to comply with the literal shelfload of rule books the US has for banks. In America, even the auditors have auditors, and this is not always a good thing.
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  20. What downturn? Your info is many months outdated.
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  21.  @corneliaaurelli1603  What you just said has nothing to do with the situation at the moment. Interest rates are the highest they've been in decades but are near the historic average. Inflation is in the low to mid single digits because the Fed rose rates and is still deleting money. And only a number of fools and frauds are going bust because of this (crypto, biotech, unicorns, tech startups, venture capital, China, Lebanon, Turkey, Egypt, and associated companies). Unemployment is low, GDP is up, and any bubble that might have existed was already popped.
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  22.  @umiluv  Wild exaggeration and demonstrates that your info is at least a year outdated.
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  23. No one cares
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  24. In the post-Great Depression world, maybe. A lot of things happened in the wildcat banking era
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  25. What are you talking about?
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  26. Found the scammer
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