UBS is basically buying an abandoned storage locker at this stage. At this point Credit Suisse is mostly junk and may be worthless but UBS might be able to find a few things of value in there to make it worth their time and money.
Sad to see such a long-standing global company end like this. Credit Suisse suffered from years of terrible leadership and bad decisions so I suppose this is preferable to just an outright collapse.
Sad to see such a long-standing global company end like this. Credit Suisse suffered from years of terrible leadership and bad decisions so I suppose this is preferable to just an outright collapse.