The Financial Collapse of 2001 Unwinding Message Board

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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding

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Snowshoe

To: Snowshoe who wrote (10673)	3/19/2023 9:15:01 PM
From: Elroy Jetson	2 Recommendations of 13784

Stiffing bondholders and giving money to shareholders would not be legal in the United States. If the bonds could become worthless, the bank was not under much stress. LOL But this is apparently a completely legal outcome under Swiss law given the powers extended to FINMA. finma.ch The Swiss always follow their rules. - If you're going to play a Swiss bond game, it certainly behooves you to know the rules of play. Actually the bonds were AT1 where A stands for additional / Contingent Convertible, the lowest ranking of bonds in Europe with high yields and great risk attached. - washingtonpost.com I'd say the outcome was obvious two years ago in March 2021 when Ulrich Körner of UBS was made Credit Suisse CEO.

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