The Swiss are extremely pissed. They spent a lot of capital and time to put up the to big to fail laws which this bank met yet it still failed.
CS paid over 32 Billion in bonuses since 2013![1] Meanwhile people aren't getting paid more to balance the inflation.
I also see a lot of US blaming going around specifically because of the capital regulations that the EU and Switzerland put in place since 2008 and supposedly the US did not. Also supposedly profited over them because they did not need to meet as strict of capital requirements. I don't hear much about SVB however.
The news has also reported that the Swiss government wanted to let the US branch of CS fail but there was enormous pressure from the US to prevent this.
There are a lot of details of this deal that aren't clear yet but I do have the feeling everyone here more or less agrees this was the only option. The focus seems to be on why it came to this situation in the first place. There is also a push from some parties for a government investigation.
I also expect the next pension law adjustment coming up to have a very hard time after all this.
CS paid over 32 Billion in bonuses since 2013![1] Meanwhile people aren't getting paid more to balance the inflation.
I also see a lot of US blaming going around specifically because of the capital regulations that the EU and Switzerland put in place since 2008 and supposedly the US did not. Also supposedly profited over them because they did not need to meet as strict of capital requirements. I don't hear much about SVB however.
The news has also reported that the Swiss government wanted to let the US branch of CS fail but there was enormous pressure from the US to prevent this.
There are a lot of details of this deal that aren't clear yet but I do have the feeling everyone here more or less agrees this was the only option. The focus seems to be on why it came to this situation in the first place. There is also a push from some parties for a government investigation.
I also expect the next pension law adjustment coming up to have a very hard time after all this.
[1] https://www.blick.ch/politik/trotz-hilfe-vom-staat-darum-sol...
Edit: Spelling